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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (8956)	3/15/2008 10:10:33 AM
From: robert b furman	Read Replies (1) \| Respond to of 33421

Hi AG, I'm still wondering if the real problem and cancer isn't in the banks - at least the smaller banks. It looks to me like most of this mortgage origination and toxic CDO lie in the investment bankers. I say it is the brokers that wanted the fast fee money that ran slipshod around the conservative bankers (those that wanted 20% down). Now that the loose are paying the final price - Bear Stearns gets bought by JPM,those left looking to give out loans (now with an even steeper yield curve)are the conservative banks. The conservative banks never got involved in the crappy loan policies in the first place. If you paid too much -you're in for a long and higher mortgage payment - unless you are dumb enough to ruin your credit. If you want a mortgage - save up 20% down and the good news is the prices are getting lower and more realistic. This is a long term healthy reversion to the sane and conservative. As the losers get washed out - the smart will become larger and more successful. The silver lining is that all are being hurt,as the fear paints all with the same brush. There are some great bargains out there - but it is a stock pickers market. Huge forward up potential IMO. Bob