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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: bankbuyer who wrote (525)	4/26/2012 12:59:47 PM
From: Covenant	1 Recommendation Respond to of 1876

This included altered incomes, work historys, and appraisals. Was the Streetlinks predecessor ever convicted for its role with appraisals?

To: bankbuyer who wrote (525)	4/26/2012 1:06:35 PM
From: KirbyJF1	2 Recommendations Respond to of 1876

Bankbuyer there you go talking about 5 years ago & the company has a new business plan. You are not trying to have an rational discussion especially since you have no position in NovaSTAR. This is just clogging up the board with useless post & harassement on your part. Kirby

To: bankbuyer who wrote (525)	4/26/2012 1:18:01 PM
From: grahamcracker	Read Replies (2) \| Respond to of 1876

<<My view is that NOVS made deliberate bad loans thru fraudulent documentation. This included altered incomes, work historys, and appraisals.>> Well, yeah. That was everybody's business model for subprime. The operating theory was that you bundle it with good stuff and sell pieces at various risk levels for various rates of return. People willing to take high risk bought the pepperoni with anchovies and jalapenos slice. Pensions funds bought the plain cheese slice. Everybody wins, right? The huge flaw (and this went waaayyyy beyond NFI) was that even the smartest people in the room convinced everyone that risk had been licked - that it had been spread so thin that it just vanished into thin air. What really happend was that all that risk was dispersed, alright - into every inch of the economy. The pier was ridden with worm holes that were not immediately visible from the outside and one day the entire pier collapsed and the smartest people them said, "Who could have forseen it??", "Black Swan", "100-year flood". Guess what old fool DID see it coming (note the date is 2003): news.bbc.co.uk (so much for the 100-year flood defense).