SI
SI
discoversearch

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.
Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?


To: peter michaelson who wrote (3503)6/27/2008 1:19:25 PM
From: RockyBalboa  Respond to of 6370
 
Here one casualty, a large one:

Message 24711791

The bank has been besieged by mortgage losses in its $120 billion Pick-A-Payment mortgage portfolio, which was acquired in 2006 from Golden West Financial Corp. These loans allow borrowers to make a minimum payment that doesn't cover all of the interest and are concentrated in troubled California mortgage markets.