2026 TeoTwawKi ... 2032 Darkest Interregnum Message Board

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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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From: carranza2	10/20/2010 8:02:03 AM
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The put-back movement seems to be gathering steam: bloomberg.com Interesting statement from one of the BofA guys: something to the effect that they could simply fix the bad loans and send them back into the pools. Considering the number of bad loans, I would guess doing so would be quite expensive. There have apparently already been some put-backs. The losses to the banks appear to be in the 50% range.....do the math. Having bought WaMu, it seems that JPM is as exposed as BoA on account of its Countrywide fiasco. The litigation expense by itself will have a material effect on these two. I don't know, SKF is looking mighty cheap at this point. Reggie Middleton, whose research is generally very good, on the issue: boombustblog.com

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