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

To: NOW who wrote (92242)	3/14/2008 8:24:37 PM
From: Oblomov	Read Replies (1) \| Respond to of 110194

I don't see any evidence of a NT bottom or a catalyst for one. This next Friday is an Armstrong cycle bottom FWIW. I don't think I'll change my portfolio on the basis of it, but it is a data point to consider.

To: NOW who wrote (92242)	3/14/2008 8:25:45 PM
From: NOW	Read Replies (1) \| Respond to of 110194

one thing seems almost certain to me: the taxpayer is going to get stuck with an enormous tab to pay for this mess. One wonders if it will be as large as the 3 trillion dollar tag for the Iraq war however... what is a couple more trillion added to the debt? we can devalue the dollar to zero and make it all disappear, right? "The widespread use of the FHLB system to provide liquidity — but more clearly bail out insolvent mortgage lenders — has been outright reckless. Countrywide alone — the poster child of the last decade of reckless and predatory lending practices — received a $51 billion loan from this semi-public system; in the absence of this public bailout Countrywide would have ended up where it should, i.e. into outright bankruptcy. And the largesse of the FHLB system does not stop at Countrywide. A system that usually provides a lending stock of about $150 billion has forked out loans amounting to over $750 billion in the last year with very little oversight of such staggering lending. The risk that this stealth bailout of many insolvent mortgage lenders will end up costing massive amounts of public money is now rising." Roubini