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

To: russwinter who wrote (64673)	6/27/2006 3:08:42 PM
From: UncleBigs	Read Replies (1) \| Respond to of 110194

exactly why I believe that the Sandler's sale of Golden West is one of the all-time best escapes in business history. $125 billion worth of garbage option arm loans concentrated in Florida and California is one hell of a dirty bomb.

To: russwinter who wrote (64673)	6/27/2006 3:52:00 PM
From: pogohere	Read Replies (1) \| Respond to of 110194

Finally, the source(s) of the liquidity needed to keep the game going is revealed (again): nytimes.com

To: russwinter who wrote (64673)	6/27/2006 4:36:06 PM
From: Ncohrnt	Read Replies (1) \| Respond to of 110194

...non-performing loans reduce lender capital reserves dollar-for-dollar. When these accounting reserves are depleted, lenders are prohibited from additional lending. Why can't the lender just borrow from someone else, boosting the reserve?