seat belts on folks the plane has just begun to learn the meaning of gravity

bubblesmoney

The combined percentage of loans in foreclosure and at least one past due was 11.18 percent, the highest ever recorded by the Mortgage Bankers.

see this

crunch time yet to properly come for the banks that dealt in crap. problem is we get to eat it now courtesy of govt buying / insuring this kind of crap and we have yet to hit properly the Alt-A (no documentation mortgages) and prime mortgage (due to job losses) time bombs.

1echidna

We have an implosion with money disappearing into the deleveraging vortex rather than explosion (wrong photo). Never mind gov'ts are printing money to fill the hole. (Or am I hopelessly naive and optimistic?)

Wookster

7.88 out of 100 mortgages are in arrears :eek:

Good heavens!

1984ReturnsForReal_2

in the USA........



We are 6 months behind.....

swiftnick

Wookster wrote: »

7.88 out of 100 mortgages are in arrears :eek:

Good heavens!

Not good

piggeh

bubblesmoney wrote: »

see this

crunch time yet to properly come for the banks that dealt in crap. problem is we get to eat it now courtesy of govt buying / insuring this kind of crap and we have yet to hit properly the Alt-A (no documentation mortgages) and prime mortgage (due to job losses) time bombs.

You are Asheron and I claim my 5 pounds (so to speak) :rotfl:

bubblesmoney

1echidna wrote: »

We have an implosion with money disappearing into the deleveraging vortex rather than explosion (wrong photo). Never mind gov'ts are printing money to fill the hole. (Or am I hopelessly naive and optimistic?)

is this more appropriate, probably you will like this better as an appropriate photo. now only if i could find one where some one is chucking money down this vortex hoping for it to disappear! think of the ship on the top left of the photo as the floundering banks and other financial institutions tottering now because of their toxic crap assets

bubblesmoney

piggeh wrote: »

You are Asheron and I claim my 5 pounds (so to speak)

:rotfl: i'll agree if every one saying that gives me the fiver instead! :beer: , MSE after all.:rotfl:

1echidna

Great photo Bubbles, lazy of me not to try and find one myself.

bubblesmoney

S&P raises loss expectations for risky US mortgages

Loss severities, which include the costs to foreclose and liquidate a home and declines in property value, are expected to rise to 70 percent for 2006 and 2007 subprime bonds and 60 percent for Alt-A bonds issued in those years, S&P added. Some severities have already exceeded 100 percent, it said.

"We have observed increases in loss severities and we expect them to continue to rise until we reach the trough of the market value decline, which we believe will be in the first half of 2010," S&P said in the report

i wonder if like always the bank shares somehow keep rising everytime news like this is released. oh the wonders of the share market.

amcluesent

>oh the wonders of the share market.<

The market can price a fact, it can't price uncertainty. Or something.