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To: skinowski who wrote (8954)	10/11/2008 1:43:58 PM
From: Galirayo	Read Replies (1) \| Respond to of 41419

>>Had no idea that it was such a heavily South Central phenomenon.<< I didn't either .. I was thinking Coastline areas. We're in a pocket area below 20%. Most all of foreclosures here are Citi [C] lien holder. And ABN Amaro but C bought their Mtg Division out. By the way .. Ski .. Thank You for being lenient on this Thread and allowing some FA Stuff, not to mention my Messy Charts. It's really difficult to Grasp the Big Picture without some FA. I Salute You !!!

To: skinowski who wrote (8954)	10/11/2008 7:50:47 PM
From: robert b furman	Respond to of 41419

Not to sound racist(I hope),but this whole mess was allowed/forced by legislation that enabled lower income (mostly minorities) to enjoy the home ownership experience. The unintended consequence was billions of incorrectly labeled risk quality(AAA) and "insured" by credit default swaps(an unregulated product -AIG's demise) which put together an extremely attractive pitch made by the investment bankers to get funding from wealthy clients (who strove to get a higher guaranteed yield in a low interest rate environment (Greenspans conundrum). This perpetuated the the funding.Early land buyers flipped real estate and talked about their tax free wealth creation and everyone got into the game(dot.com euphoria very similar). Then wealthy boomers who wanted a second home on a retirement coast played the same gane ALT A mortgages and that bubble was off. So poor communities and retirement [play zone communities) all had huge price appreciation for about 6 years - then it peaked and now it has taken down the insurance companies and the investment banks and of course the non bank loan originator network (country wide). For the black democratic politicians to blame the greed of wallstreet as they fed at the trough of political contributions takes just simply "the balls of Hitler". I continue to believe this bear market is very much like the Asian contagion of 1998. It impacts all and most of us really do not know why it is hitting us. In one word it is the negative impacts associated with "DELEVEREDGING" of those who lied and created a huge global fraud. They are gone - the assets have been spent and we can only pick up the pieces. The truly greatest travesty is all of the minorities who got on the gravy train and bought homes at generationally inflated prices are now trapped in a debt burden that must be paid off or their credit (perhaps first and only) will prevent them from ever having another opportunity to be home owners. Charlie Rangel,Jesse Jackson and Barrack Obama - you got what you wanted - but your biassed viewpoint of giving opportunity with out the costs being paid, has betrayed your people. It is the biproduct of Bill Clinton's attempt to advance multiculturalism as detail in the CRP legislation of the mid 90's.Google it I hope someone gives this to John Mc Cain and he has the balls to say it like it is at the next debate. I do not view myself as a racist ,but I believe the well intended legislation created unintended consequences that betrayed the group that was intended to recieve the benefit. Any community banker would tell you it was a train wreck coming to give credit with nothing down to people who had not managed credit before.DUH Bob

To: skinowski who wrote (8954)	10/14/2008 3:40:53 PM
From: rayrohn	Read Replies (1) \| Respond to of 41419

FWIW Natural Gas ETF call action points to higher prices Tue Oct 14, 2008 2:23pm EDT By Doris Frankel CHICAGO, Oct 14 (Reuters) - Option investors on Tuesday appear to be betting that natural gas prices will heat up within the next few months as they accumulate call options on an exchange-traded fund tied to the commodity product. Shares of the United States Natural Gas Index UNG.A rose 1.58 percent, or 47 cents, to $30.20 in afternoon trade. The fund, which tracks natural gas prices through futures and forward contracts, notched a 52-week low of $29.02 on Friday. The ETF has shed 114 percent from its July high of $63.75 as of Monday's close. In the options market, volume swelled to double the normal daily turnover as 44,000 call contracts changed hands vs. only 2,339 puts, option analytics firm Trade Alert data show. Investors often turn to equity call options allowing them to buy the company's stock at a given price and time, to speculate on share price appreciation. Players focused on the November $31 call strike. More than 36,700 contracts traded in that strike price against existing open interest of 823 lots, indicating fresh positions were initiated, according to Reuters data. The November $31 call option fetched $2.20 a contract, up 30 cents on the day. "Today's activity appears to reflect some speculative call buying on expectations natural gas prices might heat up between now and November options expiration," said Frederic Ruffy, options strategist at Web site WhatsTrading.com in New York. Front month November natural gas futures on the New York Mercantile Exchange NGX8 rose 9.7 cents to $6.785 per million British thermal units, lifted by prospects of cooler weather in consuming regions in the U.S. Midwest and Northeast and stirring tropical activity in the Atlantic Basin. "We are seeing some activity in the call options but not necessarily institutional, said Chris McKhann, an analyst at Web information site optionmonster.com in Chicago. "Natural Gas prices can be extremely volatile and traders are looking to profit from an upside bounce in the fund." The options barometer of perceived risk or overall implied volatility on the fund