John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (8970)	3/15/2008 3:47:25 PM
From: Stoctrash	Read Replies (2) of 33421

Bob, They don't have CDO's...but did they have an ALT Lending, or Alt-A Mortgage Dept? If they did, then they helped fuel the fire. That's my point - almost every major bank played the game. Just because they didn't buy or hold any of the toxic doesn't mean all is good with them. Possibly one of their large customers did the CDO shuffle and now you see how that could be a problem for them. The smaller & towny banks...they like will be in better shape since they didn't get involved. Banks Greed caused them to get in the ALT game, IMHO. Most of them did this because over the last 5+ years they ability to make $$ and make earnings estimates dwindled. Some of it because the MTG biz was hot and much of it was leaving their own banks MTG dept to these new guys (who are now defunct).

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