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-- America's Debt = "We're Screwed!"
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Just to bad your government can not take over certain large corporations like Exxon and who else makes huge profits a year.

To bad not everyone can pay $60,000 at once to pay off the huge amount of debt.

One way... seeing there is about 8.3 million millionaires that live in the USA now.

Have them pay $240,000, and give them a nice tax break for 4 years.

8,300,000 x 240,000$ = 2,988,000,000,000$

Plus have some corporations give the rest of the 6,000,000,000,000$.

Start of at 0$ debt.

Re: America's Debt = "We're Screwed!"

quote:

Originally posted by zookeeper . We are seeing individuals purchasing large homes, of which they are not qualified, taking on 30 year and now even 40 year "interest only" monster loans, with disturbing regularity.

Really? Well then help me out see Im a mortgage broker and have been for the past 7 years and I come across people everyday who dont qualifiy for loans. so if you can point me in the the direction of these lenders who loan out money to people who dont qualify it would really help me out.

Now on a serious note, neg am loans arent for everyone and Ive rarely suggested them to any of my clients, it really depends on the situation. Brokers who pushed these loans on first time home buyers inorder to close a deal due to the debt to income ratio should be shot, but if it was for an individual/couple who knew for a fact they werent staying there too long( who pay interest on an asset that is appreciating at that rate if you will cash out before rates become an issue), or if they knew their income was going to significantly increase in the next few years (IE medical residents).
Another problem is people have been using thier homes as ATM cashing out as much equity as they can, while rates have been at an all time low they are just furthering true ownership.
Buying a home is the single largest investment a person makes and if their mortage broker isnt looking at their loan from this perspective they need to find a new loan consultant.

Re: Re: America's Debt = "We're Screwed!"

quote:

Originally posted by juzfugen Really? Well then help me out see Im a mortgage broker and have been for the past 7 years and I come across people everyday who dont qualifiy for loans. so if you can point me in the the direction of these lenders who loan out money to people who dont qualify it would really help me out.

Well then, you're clearly biased!

Some of the riskiest loans have been financed on the lower end of the credit spectrum. People with deeply sub-700 FICO's getting high LTV loans with little or nothing down. It's certainly not every issuer, but it's probably more pervasive than you give credit for. I'm wary of New Century, Firstfed Financial and Novastar Financial in particular. I'm also wary of Corus Bancshares among others simply because of their huge exposure to the Florida condo/condoflipping market. But a company like Golden West which is more conservative with their loans and boasting a much lower loss ratio (even though they are purely exposed to the outrageous California market) is probably less guilty/susceptible, imo. There are banks that have engaged heavily in low-documentation/no-documentation loans as well, which is just stupid, imho. Anyhoo...

You say I'm biased, I say I know whats actually going on versus someone who read an article in Forbes magizine, I deal with this everyday.
rofl sub 700 ficos... you realize thats 80% of america, look Im 33 years old I did auto finance for BMW and Lexus 6 years and now Im in the mortgage industry and sub 700 is NOT bad or risky whatsoever.
Risky is near 620-630 but you also have to actually look at their report and see why its low, is it debt to income or is it late/slow pays.
I bet you didnt know that if you have never max out your cards and pay off your credit cards every month your fico score goes down. Lenders are in this business to make money and if you pay off every month they dont make interest they penelize you by lowering your rating.

The higher the LTV the better the persons credit has to be, no doc/low doc loans have been around since before you were born and are extremely difficult to get approved for those should be the least of your worries. The people who got into neg am loans and didnt refinance once rates started going will either be selling their homes VERY soon or getting forclosed on but this wont be a prevailent issue because the majority of neg am loans were issued in cali and florida because of the crazy market they have had over the past 4 years. This effect will help foster a slow down in the housing market due to the influx of home availibilty and current over building taking place. While most Americans rack up debt, home ownership is the last real bastion of tax relief they have.
Yes this country has a problem with keeping up with Jones but dont place too much into an article you read about defaulting home loans.

As for the companies you mentioned, if youre uncomfortable with them then dont invest in them, thast the only reason I can think of you brining them up...
And for each lenders guidlines, ALL A paper lenders guidlines are pretty much verbatum of each other, youll have slight fluctuations but this market has become so competitive in the last 5 years they all offer the same loan, the same guidlines and it boils down to funding time and customer service

quote:

Originally posted by juzfugen You say I'm biased, I say I know whats actually going on versus someone who read an article in Forbes magizine, I deal with this everyday. rofl sub 700 ficos... you realize thats 80% of america, look Im 33 years old I did auto finance for BMW and Lexus 6 years and now Im in the mortgage industry and sub 700 is NOT bad or risky whatsoever. Risky is near 620-630 but you also have to actually look at their report and see why its low, is it debt to income or is it late/slow pays. I bet you didnt know that if you have never max out your cards and pay off your credit cards every month your fico score goes down. Lenders are in this business to make money and if you pay off every month they dont make interest they penelize you by lowering your rating. The higher the LTV the better the persons credit has to be, no doc/low doc loans have been around since before you were born and are extremely difficult to get approved for those should be the least of your worries. The people who got into neg am loans and didnt refinance once rates started going will either be selling their homes VERY soon or getting forclosed on but this wont be a prevailent issue because the majority of neg am loans were issued in cali and florida because of the crazy market they have had over the past 4 years. This effect will help foster a slow down in the housing market due to the influx of home availibilty and current over building taking place. While most Americans rack up debt, home ownership is the last real bastion of tax relief they have. Yes this country has a problem with keeping up with Jones but dont place too much into an article you read about defaulting home loans. As for the companies you mentioned, if youre uncomfortable with them then dont invest in them, thast the only reason I can think of you brining them up... And for each lenders guidlines, ALL A paper lenders guidlines are pretty much verbatum of each other, youll have slight fluctuations but this market has become so competitive in the last 5 years they all offer the same loan, the same guidlines and it boils down to funding time and customer service

Like I said, you're biased. Your job is on the line and you're defending your industry. Nothing wrong with that. The facts are the facts. Just because you "actually know what's going on" doesn't mean you're not biased. I'm sure you've done quite well for yourself in the last few years since you made the switch to the mortgage industry.

I am biased too, but I also try to see the facts and the data for what they are. That's why my hedge fund has made a substantial amount of money shorting risky mortgage finance companies and homebuilders (FBC, FMT, DRL, SAX, IMH, etc, etc, etc...). Did you know that WalMart wants to enter the banking industry and that H&R Block has been in the mortgage business for several years? Everybody wants a piece. It's a frenzy if not a bubble.

And with the economy on already shaky footing with all time record levels of consumer debt, I'd think twice before hastily giving out the next loan just to keep your sales numbers growing. It's a fact that more and more people have been buying speculative second and third homes for investment, flipping condos as prices rose, hoping to pass off the liability to an even bigger fool, profiting on the mania. It's no secret that record low interest rates have been the major fuel to the homebuying fire. And it's no secret that somebody ultimately will be left holding the bag. Rates have gone back up and are still rising. Alls I'm sayin' is you might want to be careful before waving your home team flags and doing your next touchdown dance.

Re: Re: Re: Re: Re: Re: Re: Re: America's Debt = "We're Screwed!"

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Originally posted by occrider Well I'm afraid you're taking extremes in the sub-prime market and trying to apply it across the entire mortgage industry.

Yeah, perhaps I "over-did-it" (a member of my extended family has been a target for predatory lenders lately...so that explains that)

quote:

I'm not sure this trend is as pervasive as you imply.

From my perspective, and I'm not sure on the rest of the country, NY is a welfare state (only CA is ahead of us) and it tends to bring loan sharks, for lack of a better term. I do hope it's different in the rest of the country.

quote:

disposable income?

Living in the area you do, you must have some!

quote:

Originally posted by Shakka And with the economy on already shaky footing with all time record levels of consumer debt, I'd think twice before hastily giving out the next loan just to keep your sales numbers growing.

The entire point exactly, of this thread, imo.

Re: Re: Re: Re: Re: Re: Re: Re: Re: America's Debt = "We're Screwed!"

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Originally posted by zookeeper Living in the area you do, you must have some!

My debt to disposable income ratio? Yea it's huge. I can't afford to buy a parking lot in dupont circle.

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Originally posted by Shakka Like I said, you're biased. Your job is on the line and you're defending your industry. Nothing wrong with that. The facts are the facts. Just because you "actually know what's going on" doesn't mean you're not biased. I'm sure you've done quite well for yourself in the last few years since you made the switch to the mortgage industry. I am biased too, but I also try to see the facts and the data for what they are. That's why my hedge fund has made a substantial amount of money shorting risky mortgage finance companies and homebuilders (FBC, FMT, DRL, SAX, IMH, etc, etc, etc...). Did you know that WalMart wants to enter the banking industry and that H&R Block has been in the mortgage business for several years? Everybody wants a piece. It's a frenzy if not a bubble.

/sigh ignorance is bliss I guess..
First off my job is not online, my famaily owns this business and has for 30+ years and TBH I really dont have to work a day in my life but I went that route through my early 20's and found myself quite bored with life. People are ALWAYS going to buy house and the vast majority of them will never be able to pay cash for them so my industry or my job arent going anywhere.

You seem to have some misconception that loan officer/mortgage brokers actually have any say on whenther or not a loan gets approved, sorry to burst your bubble but we dont. So your little snide comments can stop right there it clear youre uneducated on this subject matter. There are guidlines set by the secondary market we have to follow, I take youve never heard of underwriters..
You have to make a certain amount of money
You have to show job stability minimum 2 years at the same place
Your debt to income can not exceede 36%(this includes the proposed p&i payment)
You have to show cash reserves anywhere from 4 to 6 months and it can not be gifted.
And your credit score has meet guidelines ( this is going to dictate your rate)
If you have less then steller credit yes you can get a loan but you will have to pony up a minimum of 20% of the purchase price plus closing cost. On a 200k house that 40k down plus closing which will be 7k plus reserves which is roughly another 5k. How many people with bad credit do you know who can gather up 50k+ in cash to purchase a house? Not too many, if they had that kind of cash their credit wouldnt be that bad, you can adjust the purchase price to whatever area but the formula wont change.

So you run a hedgefund?
by your ignorance on this subject, I'll think I'll pass on investing.
Glad to see you've read the front page of just about every financial magazine and newspaper for the last years stating how rates are going up and housing will start slowing down, good job on those shorts I think I hear Gordon Gecko knocking on your door.

What does Walmart getting in the financial field have to do with any of this and yes I knew about it, it was announced over a year ago. But let me return the favor, did you know Target,GM and Nordstrom along with atleast half a dozen other wll known companies are banks, thrift charters and run ILCS? What effect does any of this have on the mortgage business......... NOTHING! H&R Block along with EVERY MAJOR financial institution is in the mortgage business, Chase (ala JP Morgan), Merryl Lynch, Goldman Sachs.

Stop with this did you know bullshit ok I already told you Ive been in finance in one form or another for damn near 14 years and you arent impressing anyone

quote:

Originally posted by Shakka And with the economy on already shaky footing with all time record levels of consumer debt, I'd think twice before hastily giving out the next loan just to keep your sales numbers growing. It's a fact that more and more people have been buying speculative second and third homes for investment, flipping condos as prices rose, hoping to pass off the liability to an even bigger fool, profiting on the mania. It's no secret that record low interest rates have been the major fuel to the homebuying fire. And it's no secret that somebody ultimately will be left holding the bag. Rates have gone back up and are still rising. Alls I'm sayin' is you might want to be careful before waving your home team flags and doing your next touchdown dance.

How is the economy on shaky footing, debt is high doesnt = shaky economy. I cant give out loans to who ever I want the business doesnt work that way.
No one flipped properties in hopes of passing off liabilities, they were flipped for profit, what you call mania is the samething that happened in the 90's with the tech boom. Every decade there is a flourishing industry that get heavily invested in - tech, oil, realestate, and money. Heres a little hint for ya real estate ALWAYS appreciates.
Why are you repeating "its a known fact blah blah blah" no joke its known, any fool waiting inline at the grocery store can repeat everything you posted about just by glancing at the magazine covers.

quote:

Originally posted by juzfugen famaily owns this business and has for 30+ years and TBH I really dont have to work a day in my life but I went that route through my early 20's and found myself quite bored with life.

Sorry, no sympathy for you here.


Pssst!....proofreading....it's a good thing

quote:

Originally posted by juzfugen Heres a little hint for ya real estate ALWAYS appreciates.

NO! NO! NO! NO! NO! NO! NO! NO! NO! NO!

For example, south of Buffalo NY, anyone remember a piece of real estate named LOVE CANAL! A wonderful neighborhood development, full of promise, high home values and TOXIC WASTE! A total financial loss for all parties involved.

North Syracuse NY, a community that was thriving and property values high, Carrier Corporation went into the toilet and now people are selling 2500sq ft. homes for pennies on the purchase dollar.

Auburn NY, the military installation called Seneca Army Depot is closed (thanks, Bill....shithead ) and, once again, values now.... ****sound of a flush****

I think the word we are looking for is "usually" or "sometimes" appreciates in value. Real estate investment is not as "safe" as it once was.

Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: America's Debt = "We're Screwed!"

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Originally posted by occrider My debt to disposable income ratio? Yea it's huge. I can't afford to buy a parking lot in dupont circle.

It's one of the few places where you can say, "My home IS my retirement plan!"

quote:

Originally posted by juzfugen /sigh ignorance is bliss I guess.. First off my job is not online, my famaily owns this business and has for 30+ years and TBH I really dont have to work a day in my life but I went that route through my early 20's and found myself quite bored with life.

My God, how tacky. The fact that you even felt it was necessary to mention that speaks volumes about your character. I doubt anybody is impressed that you're sponging off mommy and daddy's success.

quote:

People are ALWAYS going to buy house and the vast majority of them will never be able to pay cash for them so my industry or my job arent going anywhere.

Right. Assuming they can afford it and the alternatives such as rental or living with their parents (as you probably do) aren't that much more attractive. That doesn't mean prices won't fluctuate or that people won't default on their loans. Nevermind increasing default rates and slowing home sales. Remember, it's the change at the margin, not the absolute level that determines a trend.

quote:

You seem to have some misconception that loan officer/mortgage brokers actually have any say on whenther or not a loan gets approved, sorry to burst your bubble but we dont. So your little snide comments can stop right there it clear youre uneducated on this subject matter.

I apologize. I just assumed by your comments about how successful you are that you actually had more clout. It would appear that you're just a pencil pusher, not a decision maker.

quote:

There are guidlines set by the secondary market we have to follow, I take youve never heard of underwriters.. You have to make a certain amount of money You have to show job stability minimum 2 years at the same place Your debt to income can not exceede 36%(this includes the proposed p&i payment) You have to show cash reserves anywhere from 4 to 6 months and it can not be gifted. And your credit score has meet guidelines ( this is going to dictate your rate) If you have less then steller credit yes you can get a loan but you will have to pony up a minimum of 20% of the purchase price plus closing cost. On a 200k house that 40k down plus closing which will be 7k plus reserves which is roughly another 5k. How many people with bad credit do you know who can gather up 50k+ in cash to purchase a house? Not too many, if they had that kind of cash their credit wouldnt be that bad, you can adjust the purchase price to whatever area but the formula wont change.

Were we not talking about low-doc/no-doc, stated-income loans? I am the first person to admit that I got a much more buyer-friendly mortgage than I probably otherwise would've gotten at any other time in recent history. I put all of $6K down (though it was not required and ultimately went more towards my closing costs than anything else). While I have no problem paying my monthly mortgage, my adjustable portion of the loan has already increased a couple of times as rates have risen. At the margin, my monthly payments have gone up about $150, which in isolation isn't a big deal. However, coupled with a lot of other structural issues going on like persistently high energy costs, record levels of consumer debt, record levels of cash-our refinancings, etc...that $150 becomes a little more than just a blip on the radar and for a lot of people on the lower end of the credit spectrum who are already stretched, it's a big deal. Choose to turn a blind eye to it if you like (as many in your industry seem to be doing), but there is plenty of tangible evidence out there that all is not rosy in oompa-loompa land.

quote:

So you run a hedgefund? by your ignorance on this subject, I'll think I'll pass on investing. Glad to see you've read the front page of just about every financial magazine and newspaper for the last years stating how rates are going up and housing will start slowing down, good job on those shorts I think I hear Gordon Gecko knocking on your door.

Don't run one, I work with 2 other guys managing one. That was more for full disclosure (as I stated my biased position) than to engage in a pissing contest. If you had been on this forum longer, you would probably know that by now anyway. I'm not boasting about my overall performance, but the part about making money on risky mortage finance companies is true. We initally lost money on them by being early, but we ultimately have profitted handsomely on the trades because we (like many) have been right.

quote:

What does Walmart getting in the financial field have to do with any of this and yes I knew about it, it was announced over a year ago. But let me return the favor, did you know Target,GM and Nordstrom along with atleast half a dozen other wll known companies are banks, thrift charters and run ILCS? What effect does any of this have on the mortgage business......... NOTHING! H&R Block along with EVERY MAJOR financial institution is in the mortgage business, Chase (ala JP Morgan), Merryl Lynch, Goldman Sachs.

It illustrates the point of frenzy/bubble. The fact that it doesn't concern you that everybody and their brother is jumping into the finance business is, in and of itself, concerning.

quote:

Stop with this did you know bullshit ok I already told you Ive been in finance in one form or another for damn near 14 years and you arent impressing anyone.

I guess you're just albert fucking einstein swinging a 12" dick. How dare anyone question your words of wisdom. I could care less whether you're impressed or not. That wasn't the point.

quote:

How is the economy on shaky footing, debt is high doesnt = shaky economy. I cant give out loans to who ever I want the business doesnt work that way.

I thought you were well read. Guess you've been drinking more kool-aid than I thought.

quote:

No one flipped properties in hopes of passing off liabilities, they were flipped for profit

Sure. It's profitable until someone sells it for a loss. Then it becomes a liability. Do you think you're posting in the COR? Flipped from fool to greater fool until some fool is left holding the bag. Just get in early and get out early and you'll be fine. The last time I checked, debt didn't go in the asset column.

quote:

what you call mania is the samething that happened in the 90's with the tech boom. Every decade there is a flourishing industry that get heavily invested in - tech, oil, realestate, and money. Heres a little hint for ya real estate ALWAYS appreciates.

Well that's just retarded. On an infinite timeline, the survival rate for anything goes to zero. What a useless statistic you've just provided us. Nobody in the history of the world has ever sold property at a loss. Riiiiiight.

quote:

Originally posted by Shakka the rapid growth of emerging markets like China, India, Russia, Brazil, etc.

Heh... we're letting the world down since the 70's, I wonder whether we will manage to actually grow this time

quote:

Originally posted by Shakka My God, how tacky. The fact that you even felt it was necessary to mention that speaks volumes about your character. I doubt anybody is impressed that you're sponging off mommy and daddy's success.

Typical 1+1=3 nonsense
My parents own a real estate brokerage firm, I went to UT Austin graduated with a degree in finance. (currently half way through my MBA)
Worked at my friends car dealship as finance director, got bored decided to open a mortgage brokerage firm in 1999 and office with my parents real estate company. I started it on my own, financed it on my own.
Take your tacky I mean jealousy and shove it up your ass, I could honestly careless what you think of my character, I know I am fortunate enough to be born into the famaily I have and yes I am a trust fund baby but I also know Ive worked my ass off getting to where I'm at now.

quote:

Originally posted by Shakka Right. Assuming they can afford it and the alternatives such as rental or living with their parents (as you probably do) aren't that much more attractive. That doesn't mean prices won't fluctuate or that people won't default on their loans. Nevermind increasing default rates and slowing home sales. Remember, it's the change at the margin, not the absolute level that determines a trend..

Sow me a time in the last 100 years where there have been no homes sales for a quarter, a month or even a week in the USA.....
you cant hence my saying people will always buy homes and my job industry is secure. BTW for the third time im in my early 30's and havent lived mommy or daddy in over 14 years

quote:

Originally posted by Shakka I apologize. I just assumed by your comments about how successful you are that you actually had more clout. It would appear that you're just a pencil pusher, not a decision maker. ..

rofl clout has nothing to do with it, this comment by you leads me to believe youre full of shit when saying you work for an investment firm due to your utter lack of knowledge of how this industry works.

FYI go open your yellow pages/white pages and look up mortgage brokers, now see all those company names and numbers, not a single one of them or anyone at their office makes the decision on if a loan get approved.

quote:

Originally posted by Shakka Were we not talking about low-doc/no-doc, stated-income loans? I am the first person to admit that I got a much more buyer-friendly mortgage than I probably otherwise would've gotten at any other time in recent history. I put all of $6K down (though it was not required and ultimately went more towards my closing costs than anything else). While I have no problem paying my monthly mortgage, my adjustable portion of the loan has already increased a couple of times as rates have risen. At the margin, my monthly payments have gone up about $150, which in isolation isn't a big deal. However, coupled with a lot of other structural issues going on like persistently high energy costs, record levels of consumer debt, record levels of cash-our refinancings, etc...that $150 becomes a little more than just a blip on the radar and for a lot of people on the lower end of the credit spectrum who are already stretched, it's a big deal. Choose to turn a blind eye to it if you like (as many in your industry seem to be doing), but there is plenty of tangible evidence out there that all is not rosy in oompa-loompa land...

Umm no we werent, it small comment made by you and myself and neither of us made it a focal point of discussion. But I do have serious problem with this passage here, you seem to clutter things together which have no effect on each other.

Why is part of your loan an arm? Even if you did a first and second so you dont have to pay pmi neither should be an arm, especially if you are so intuned to the economy why on earth have you not converted your loan into a non adjusting loan? Only reason I can think of is if you have shit credit and the only way you could get financed is by doing a 2/1-3/1 to re establish yourself and refi 2 to 3 years down the road once you have a good payment tradeline, if thats the case you reap what you sow otherwise I have no idea why someone of your stature would still be in an arm.

quote:

Originally posted by Shakka Don't run one, I work with 2 other guys managing one. That was more for full disclosure (as I stated my biased position) than to engage in a pissing contest. If you had been on this forum longer, you would probably know that by now anyway. I'm not boasting about my overall performance, but the part about making money on risky mortage finance companies is true. We initally lost money on them by being early, but we ultimately have profitted handsomely on the trades because we (like many) have been right....

I'm calling bullshit here just based on the way this conversation has gone between us, your answer show me you have no grasp on how homeloans actually operate. As I said ive been in the mortage biz for several years and I dont claim to know everything, but I have lunch with my financial advisor atleast twice a month and hes almost as well versed about mortages as I am which leads me to wonder why you really dont know too much about it.

"If Ive been on this forum longer".......? Check join dates Ive been here 2 years longer then you

quote:

Originally posted by Shakka It illustrates the point of frenzy/bubble. The fact that it doesn't concern you that everybody and their brother is jumping into the finance business is, in and of itself, concerning.

Explain why its concerning now but it wasnt concerning before, or hell just explain why its concerning at all
/me grabs popcorn and waits for this one

quote:

Originally posted by Shakka I guess you're just albert fucking einstein swinging a 12" dick. How dare anyone question your words of wisdom. I could care less whether you're impressed or not. That wasn't the point.

whoa there nelly, I'm not the one swinging away that would be you by emphasizing how its commen knowledge blah blah blah. Like I said stop repeating headlines and add some depth to this conversation.

quote:

Originally posted by Shakka I thought you were well read. Guess you've been drinking more kool-aid than I thought.

great arguement there point well conveyed
must be depressing to be the perpetual bear

quote:

Originally posted by Shakka Well that's just retarded. On an infinite timeline, the survival rate for anything goes to zero. What a useless statistic you've just provided us. Nobody in the history of the world has ever sold property at a loss. Riiiiiight. .

once again 1+1=3
I didnt provide a statistic, it was an observation, try and disprove it. And where did I say no one has lost money on real estate? Please reqoute and highlight.

I think you are full of it, you dont work for a hedge fund manager or if you do you are just peon at the company who brings everyone coffee, the only reason I bring this up is because of how you repsond in this thread, it clearly shows to anyone who has the slightest concept of lending that you dont know what the hell you are talking about, so either you are clueless or full of shit. I'd like to give you the benefit of the doubt and lean towards the latter.

Blah Blah Blah, my daddy can beat up your daddy...

Come on guys, seriously...

You both work in different parts of the finance world, that's nice.

Is all this public justification really required?

Regardless of chosen field of career, everything posted is still opinion anyways, so why all the ruffled feathers?

Bah, why am I even posting this?? GAH!

go get a room or somethin'

quote:

Originally posted by Fir3start3r Blah Blah Blah, my daddy can beat up your daddy... Come on guys, seriously... You both work in different parts of the finance world, that's nice. Is all this public justification really required? Regardless of chosen field of career, everything posted is still opinion anyways, so why all the ruffled feathers? Bah, why am I even posting this?? GAH! go get a room or somethin'

lol. Guess I let that one get under my skin a bit. That's why there's 2 sides to the market (if not more). Wanna see some funny market banter take a look at the Doral Financial message board on Yahoo Finance.

I guess we'll just re-visit this topic over the next 12-18 months to see how things pan out and then we can pass judgement on the validity of our lively debate. I predict juzfukkin still have a job and millions of dollars, but I also predict that his industry will have changed materially, and probably not for the better. I choose to bet that the risks are getting much more heavily weighted to the downside. Cheers and best of luck you, juzfukkin.

I'm gonna go jerk-off on my Mercedes. Seriously.

quote:

Originally posted by Shakka lol. Guess I let that one get under my skin a bit. That's why there's 2 sides to the market (if not more). Wanna see some funny market banter take a look at the Doral Financial message board on Yahoo Finance. I guess we'll just re-visit this topic over the next 12-18 months to see how things pan out and then we can pass judgement on the validity of our lively debate. I predict juzfukkin still have a job and millions of dollars, but I also predict that his industry will have changed materially, and probably not for the better. I choose to bet that the risks are getting much more heavily weighted to the downside. Cheers and best of luck you, juzfukkin. I'm gonna go jerk-off on my Mercedes. Seriously.

Hey? What ever happened I thought we were going to pm one each other and such?

quote:

Originally posted by metalgearsolid Hey? What ever happened I thought we were going to pm one each other and such?

I sent you a reply.

quote:

Originally posted by Shakka I sent you a reply.

Just one

quote:

Originally posted by metalgearsolid Just one

uh... Did you have anymore questions?

quote:

Originally posted by Shakka uh... Did you have anymore questions?

yea, aren't you forty?

quote:

Originally posted by metalgearsolid yea, aren't you forty?

no, not yet. Sometimes I feel like it, though.

quote:

Originally posted by Shakka I guess we'll just re-visit this topic over the next 12-18 months to see how things pan out

Excellent idea, Smithers

quote:

Originally posted by Fir3start3r Is all this public justification really required?

Yes, this got a little off topic, and a little personal...



...but funny!

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