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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Chen who wrote (213668)	8/1/2009 1:12:12 PM
From: Perspective	Read Replies (1) \| Respond to of 306849

And yet the international banks have been rocking. It would seem everyone thinks we've somehow dodged the bullet. I just don't get it I guess. It doesn't look to me like we've done anything to get rid of all the bad loans. They're all still there, right? How are the banks any more sound? Because they were able to issue a few billion in equity? Spain is a disaster area, and yet their stocks are rocketing higher. Swiss banks may lose their tax evader clientele. Banks are risk sinks in our glorious new economy, and I don't see where they have dispensed with any of the bad debts at all. All I see is a bunch of reworked loans - residential, commercial, and industrial - and a bunch of debtors that can't possibly pay their bills. We all know how well the reworked loans fare. It's extend and pretend as they say. We have had the biggest credit bubble in the history of our country, and yet we've had fewer than 100 banks taken under so far this year. Does anyone realistically think we get off that easily? Bad loans are bad loans. The hard part is knowing when it will matter to the financial markets. And I'm tiring of trying to figure it out. Every time I think it might be turning and take a position, I get nailed again. Feels like 2000 all over again. Is it really worth it... `BC