Jerry Yang fucked up so royally I can't even believe he still has a job there.

I think he forget his obligation is to shareholder's and not the company.

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quote:

Originally posted by Krypton I think he forget his obligation is to shareholder's and not the company.

On that note, though, it doesn't look like he helped the company much either.

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"Go back to bed america your government is in control
Here's American Gladiators, here is 56 channels of it,
Watch these picturary retards bang their fuckin' skulls together and congratulate you on living in the land of freedom,
Here you go America you are free to do as we tell you
We want your soul
Your cash, your house, your phone, your cash, your house, your life" -Adam Freeland - We Want Your Soul

quote:

Originally posted by Groundhog Boy On that note, though, it doesn't look like he helped the company much either.

LOL...no doubt.

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quote:

Originally posted by occrider What most concerned me was this slide however:

that should already be priced into the securities. in any event, hopefully the alt-a borrowers won't default at the same rate as subprime. they shouldn't considering alt-a are a grade above.

quote:

Originally posted by jerZ07002 that should already be priced into the securities. in any event, hopefully the alt-a borrowers won't default at the same rate as subprime. they shouldn't considering alt-a are a grade above.

I wouldn't be certain. While I'd hope the world had caught on by now to the absurdity of alt-a, etc., the fact is that as long as those loans are performing I highly doubt many, if any, institutions have taken any marks or significant reserves for them. Maybe the stocks have factored it in to some extent, but the same argument was made over and over again for the last 1.5 years on other mortgage exotica.

quote:

Originally posted by Shakka I wouldn't be certain. While I'd hope the world had caught on by now to the absurdity of alt-a, etc., the fact is that as long as those loans are performing I highly doubt many, if any, institutions have taken any marks or significant reserves for them. Maybe the stocks have factored it in to some extent, but the same argument was made over and over again for the last 1.5 years on other mortgage exotica.

do you have any idea the percentage of alt-a's that are held directly by banks and not securitized? i thought the only reason banks went along with giving these loans is they were going to package and sell them as securities.

quote:

Originally posted by Krypton I bet it did. Just glancing at their quote. They've got a debt/equity ratio of 6.37. That means, they have 6 times more debt than the amount investors have bought in stock. That's pretty scary..

yeah I sold it at 23 only because the amount it went up well exceeded how much I wanted to gain from MS. I'm using my gains to find a good bargain in the markets.

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quote:

[11:58] Bas //: fuck he's hot

quote:

Originally posted by jerZ07002 do you have any idea the percentage of alt-a's that are held directly by banks and not securitized? i thought the only reason banks went along with giving these loans is they were going to package and sell them as securities.

Wachovia holds a ton of them from their Golden West acquisition in 2005. But to answer your question, I'm not sure who is holding how much of the bag of shit. Either way, there is still a ton of toxic shit out there that hasn't yet hit the proverbial fan.

Hey Occ--

Is there a direct link for that ABA chart on mortgage resets?

>brokershandsontheirfacesblog<

i had aug and sept puts on SNDK that I had to sell at a large loss because of the BS buyout speculation. today sndk is in the single digits.

I didn't have the deep pockets to keep on buying.
it's likely to keep going down, SNDK is a negative gross margin company and at this moment without much growth prospects not to mention the overall markets are STILL overpriced in the hopes of some type of magic government intervention.

http://www.nakedcapitalism.com/
http://market-ticker.denninger.net/

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soulful/latin/deep house + jazz