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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (37829)	8/5/2005 9:29:16 AM
From: Ramsey Su	Read Replies (3) \| Respond to of 110194

Jack, unlike 3rd world Tobago, we already have lots of below IO loans here to inflate the bubble with the last breathe of hot air. Seriously, one of the clearest messages I heard so far from listening to the subprime lenders' conf calls this qtr is investor appertite for these junk loans. March qtr, I remember they were still talking about "plentiful" buyers to take the loans off their hands. This qtr is a different story. Though no one came out and admitted it, it is clear that most are forced to increase their portfolio because they have no place to unload the loans. A negative gain on sale will destroy these guys. So there are finally a couple of down grades today on your favorite stock - TOL?