Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (33646)	4/22/2008 7:21:41 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217925

just in in-tray quote The only thing missing is that BoA also announced that half of its construction loans are currently, in some form, impaired. Construction loans, commercial real estate, home equity loans, credit cards. These are all what is called “regular” banking business. That is why BoA’s announcement yesterday should have been the biggest shock so far. It wasn’t providing against dodgy securities, it was provisioning against the bread and butter. That is where we are going now – why HSBC is a rip-roaring sell – and why it all gets significantly worse from here. Put it together with Ramsey’s amazing insights into the breakdown in the fabric of some parts of the US housing market and it makes the current rally look like the biggest bear trap in history. Jim unquote