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Realistbear

10th Largest Bank In U S In Trouble

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http://personal.fidelity.com/research/stoc...ketsindex.shtml

U.S. stocks end with solid losses on renewed credit woes
4:29 p.m. 07/31/2007 By Kate Gibson
Dow Jones Industrial Average takes 1.5% hit for July; S&P off 3.2%
NEW YORK (MarketWatch) - Word of trouble from the country's
10th-largest mortgage lender
abruptly pulled the plug on the stock market's attempted recovery, with the Dow wiping out a two-day rally to end Tuesday with a near 150-point loss, and a monthly decline of 1.5%.
Concerns about credit markets and bad-home loans resurfaced with news that American Home Mortgage Investment Corp. might liquidate its assets after failing to meet margin calls.
"That again brings up the issue that we don't know how the credit crunch is going to affect financials," said Art Hogan, chief market strategist at Jefferies & Co.
The Dow Jones Industrial Average closed 146.3 points lower at 13,212, with slid 100 points to 13,257.1, with 26 of its 30 components taking a hit.
"There is not one signal that says the credit markets are okay; there is a tremendous amount of uncertainty, and it is going to take some time for confidence to return to the market," said Mike Malone, a trading analyst at Cowen & Co.

The price of 10 years' irrational exuberance in the house markets (plural form thereof).

Edited by Realistbear

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It is not the 10th largest "bank"

Bank woes will vome later in the cycle

"10th-largest mortgage lender ". 10th Largest in the US.

You are right though, the clearing banks etc. will not escape.

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One capital crisis after another. Time to cut the rates ?

Was'nt it the emergency cut in rates that got us to this position?

Why would they just want to repeat the same mistake and make the situation even worse?

If they do lower IR in response then they have admitted failure and will be effectively signaling that assets and equities are a one way bet - i.e. fill yer boot coz money is Andrex.

HAL

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Was'nt it the emergency cut in rates that got us to this position?

Why would they just want to repeat the same mistake and make the situation even worse?

If they do lower IR in response then they have admitted failure and will be effectively signaling that assets and equities are a one way bet - i.e. fill yer boot coz money is Andrex.

HAL

It certainly is :lol:

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Just caught a piece on Bloomberg to the effect that BS are halting withdrawals. Dominoes are still collapsing.

Bloody hell, nearly gave me a heart attack. Reading your comment out of context I read it as 'Just caught a piece on Bloomberg to the effect that Building Societies are halting withdrawals.'

I was just on my way out to check my Baked Bean store buried in the garden when I looked at the post above and saw Bear Sterns

Phew!

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Bloody hell, nearly gave me a heart attack. Reading your comment out of context I read it as 'Just caught a piece on Bloomberg to the effect that Building Societies are halting withdrawals.'

I was just on my way out to check my Baked Bean store buried in the garden when I looked at the post above and saw Bear Sterns

Phew!

Might have to wait a few more weeks for that to happen! :o

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Was'nt it the emergency cut in rates that got us to this position?

Why would they just want to repeat the same mistake and make the situation even worse?

If they do lower IR in response then they have admitted failure and will be effectively signaling that assets and equities are a one way bet - i.e. fill yer boot coz money is Andrex.

HAL

Was'nt it the emergency cut in rates that got us to this position? (YES)

Why would they just want to repeat the same mistake and make the situation even worse? (TO KEEP THE SCAM GOING)

If they do lower IR in response then they have admitted failure and will be effectively signaling that assets and equities are a one way bet - i.e. fill yer boot coz money is Andrex. (NOT A FAILURE, IT WILL BE PROMOTED AS A REWARD AFTER THE SUCCESSFUL TIGHTENING PERIOD AND WE AND EVERONE ELSE WILL DROP RATES AGAIN TO KEEP PARITY WITH THE $$$)

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To sum up my stance on the whole situation of the 10th largest American lender having trouble i would like to quote from the most perfect movie ever made... The Godfather

"You ain’t gonna see him around no more"

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