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To: HisKingdomWillAbolishSinDeath
The article is a bit disingenuous in that Britain, Ireland, Germany, etc. were making their own subprime loans. It wasn't just the US.

Some of their financial institutions were late getting into their local scene and bought the funny stuff from the US to catch up on comparative returns.

As of right now, nobody knows how bad the loan portfolios are because they are so mixed with good and bad.There are a lot of subprime borrowers who are not defaulting.

I question why some of the financial institutions are writing off such big hits without real knowledge of what they got. Is it to be able to buy back their stock at a low price and later reinstate earnings when the portfolios perform?

6 posted on 11/03/2007 3:54:56 AM PDT by leadhead (Democracy can withstand anything but democrats)
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To: leadhead

Boy, you read an article like that and you panic, then you read comments from the smart FR board and your heart beat slows to normal again:)

I’m grateful for the balance that people here post.

Please continue to expand on this subject as I really want to know the truth of what’s going on.


7 posted on 11/03/2007 4:11:01 AM PDT by spacejunkie
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To: leadhead

Oh, I get it! The United States is conveniently someone to blame! That fits everything else that’s been going on for the last few decades.


10 posted on 11/03/2007 4:45:12 AM PDT by RoadTest ("The Lord bringeth the council of the heathen to naught" - Psalm 33, verse 10)
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To: leadhead
It’s called “Kitchen Sinking”. It acts as an opportunity to dump most if not all of the bad, and then show profits afterwords. Much financial fiscal reporting is IMHO slight of hand that makes the great magicians look like armatures.
15 posted on 11/03/2007 5:00:21 AM PDT by Woodman ("One of the most striking differences between a cat and a lie is that a cat has only nine lives." PW)
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To: leadhead
America suffered horribly under carter... real pain and real economic depression... and the msm was his willing ally in convincing America that our best days were behind us... we were living as greedy Capitalists and screwing the rest of the world... playing “better” than they were. We were forced to wait hours to BUY gas... turn down the thermostats to 68 in the Winter and up to 78 in the Summer. carter told us we would have to do more with less... that we would have to learn how to live amongst all nations as subservient sheep.

REAGAN came along and blew away the facade of lies entombing America... his words shredded the clouds and let the light of truth illuminate the “Shining City upon the Hill”. There is nothing new in this crap writing... nothing that I have not been told before... and over decades. Some FReepers must be spending too much time watching Dancing With the Stars or The Bachelor.

LLS

23 posted on 11/03/2007 5:35:22 AM PDT by LibLieSlayer (Support America, Kill terrorists, Destroy dims!)
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To: leadhead
The article is a bit disingenuous in that Britain, Ireland, Germany, etc. were making their own subprime loans. It wasn't just the US.

In fact the British real estate market just recently reached its peak, and is only now starting to soften.

40 posted on 11/03/2007 6:32:39 AM PDT by BlazingArizona
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