It's An Appropriate Time To Play Janga!
(www.youtube.com)
Comments (3)
sorted by:
"A CDO is dog shit wrapped in cat shit."- Jared Vannett.
Of course it won't happen the same way. They never do. Bailouts are actually not that common.
The moratorium expiration will cause a tsunami of foreclosures, because millions of unpaid mortgages are now legally in default. A moratorium does not nullify that fact.
The banks know this as does the government.
BoA is set to sell 15B in bonds.
Chase is set to sell 13B of a 31 year bond. The age of that bond is the same age of the MBS bond market. Created 31 years ago.
Obviously hedging for protection.
CEO's from the five big banks are going to meet the House and Senate bank committees on May 26th and May 27th, just a few days before the moratorium expires.
The banks are going to save themselves, again, and millions of Americans will lose their homes, again. This time over something the government had no legal standing to do. Moratorium.