The coming financial crisis

[Seabiscuit36]

Does he actually believe the shtein he spews?

he's saying the same thing every CEO is saying right now? 

http://www.fool.com/investing/dividends-income/2008/07/15/whos-the-next-indymac.aspx

[Susquehanna Birder]

This isn't all too different from the S&L debacle a while back. Yeah, it sucks, and yeah, there will be some pain and gnashing of teeth...but that doesn't mean it's the end of the world, despite the media's shtein-stirring.

[Wingspan]

Does he actually believe the shtein he spews?

I am no bush fan..at all.

But what does he say in this article that is so outrageous?

[PhillyGirl]

[BigEd76]

As long as Citizens Bank is OK, I'm good.  I left Wachovia  a long time ago when I found out my branch didn't shred papers containing account numbers and threw them out in the regular trash....

[rjs246]

No one's trying to steal your identity Ed. Just settle down.

[Diomedes]

truly.  his money on the other hand...

[PoopyfaceMcGee]

Does he actually believe the shtein he spews?

I am no bush fan..at all.

But what does he say in this article that is so outrageous?

Clearly, you're just another neo-con zealout shill.  Stop pretending.

[rjs246]

truly.  his money on the other hand...

Shut-ins have money?!?!

[Cerevant]

Does he actually believe the shtein he spews?

I am no bush fan..at all.

But what does he say in this article that is so outrageous?

Financial system basically sound
= housing market basically sound
= 1999 .com investments basically sound

[PoopyfaceMcGee]

Dot coms were basically millions of dollars being flooded into a group of guys in a refurbished warehouse with some ideas that might someday make actual money.

The housing market is still based on good, old-fashioned real estate.  So while values are declining to much more reasonable levels, homes and land still have inherent value.

But yeah, I can see why you'd want to portray them as basically identical.  I know all of you are just waiting for Obama to get elected so that he can get all the credit for the good economy, which will in reality be brought on by a normal upwards cycle of the economy.

[Diomedes]

No normal cycle could deal with the burden of Iraq.  We need to stop spending all that fake money to fight a republican crusade before any normal cycle can  bring relief.  McCain won't end Iraq..he likes it.

[reese125]

But yeah, I can see why you'd want to portray them as basically identical.  I know all of you are just waiting for Obama to get elected so that he can get all the credit for the good economy, which will in reality be brought on by a normal upwards cycle of the economy.

You might as while throw the war in Iraq in that statement as well. By the time Obama gets in, the current 150,000 troops will be down dramatically, and he will be raising his hands in victory speeches across America--unless of course another terrorist plane decides to take a right hand turn

[Cerevant]

The problem is that this is not a normal cycle.  There were peaks and troughs in the last two decades, but the "sane" price was always around $125k.  Previous peaks were 10-15% deviations from this median.  We are now 80% above the median.  That's a long way to fall.

[ice grillin you]

i think the housing market is fabulous...i just bought a brand new home for 75k less than it was going for last summer