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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (6525)	9/16/2002 10:28:37 PM
From: pogbull	Read Replies (1) \| Respond to of 89467

Eventually PMs will be the only safe area to invest. They will manipulate things in every, paper backed, investment area until people just give up and put their money into physical gold and silver.

To: Jim Willie CB who wrote (6525)	9/17/2002 8:02:45 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 89467

>>the originators dont care if the loans go bad the credit brokers of the loans dont want to know the buyers of the mortgage-backed securities (MBS) arent aware<< This is the way this carousel has been spinning since ... oh my ... Milken took a longer holiday? This spin applies to SPADES, SPUDS, PLUS ... brains were only required to find a new name for the product - like Brasilian, Mexican, Phillipines', my and your grandmother's local currency bonds repacked via Bermuda Triangle as AAA, tax-deductible (of course) something to be sold to the US teachers' pension fund or to Orange country CA and get the customer's "face ripped off" as they routinely named this procedure. Risk management?... Yeah, you get my risk and I get your money. I may be very unfair towards Fannie Maes & Co for all the good they are supposedly doing to J6P (...har,har,har...), but I have been reading F.I.A.S.C.O (warmly suggested)and IT IS SO much of the same thing. The best place to get some sense of perspective in this credit bubble matters, for me at least, is Doug Noland's letters (see prudentbear's archives). Plus Fleck of course, when and if his voice comes through the WS din. dj