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Politics : Foreign Affairs Discussion Group

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To: Lou Weed who wrote (251974)	12/21/2007 2:29:47 PM
From: michael97123	Read Replies (1) of 281500

keep your eyes on the fast money trade for financials we talked about earlier. I once had a business in NYC. An older guy worked for me. He was damn stupid but had a knack for picking stocks. Back in the 70s Consolidated Edison (NYC only utility) seemed to be on the verge of going bust. This guy started buying the stock at $7. He told me and my brother to buy, buy, buy because they were plugged into every house. How could they be allowed to go bust. I think we have the same thing going on with the banks and i would add insuracne cos like abk, mbi, mtg as well. If they go bust, it would be a disaster for the economy. So whats being done. Foreign and private investors to the rescue. Marty Whitman of 3rd ave fund fame buying up the insures. I think he owns 10-15% of couple of them. And for the banks we get dubai, singapore, china etc. recapitalizing cos who lost heavily in sub prime. All thats changed is new additional minority ownership replacing subprime worthless loans. How can they miss making money here? Its a matter of time only and it probably makes sense to start taking a first position before new year as the najarian bros are doing.

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