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

To: dpl who wrote (38236)	8/9/2005 3:38:21 PM
From: russwinter	Respond to of 110194

<Can someone "now" get another loan with another low teaser rate?> That "churning" of the same customers is the game the worst of the Ponzi scheme lenders have practiced as mentioned in the highly critical Saxon call. Might be famous last words, but think that's now starting to get real problematic. We may get more hints from the MBAA numbers Wednesday, last five weeks refi numbers: 7-1: 2788 7-8: 2554 7-15: 2618 7-22: 2320 7-29: 2250 Think we need to see a fast fall below 1800, to signal that Ponzi lending is on the run. Then we get a "credit event" on top of it, BANG!