Comments on: The Domino Effect http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/ Keeping a jaundiced eye on the corporate media. Sun, 06 Jul 2008 07:15:24 +0000 http://wordpress.org/?v=2.5.1 By: Crazed Opossum http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128297 Crazed Opossum Tue, 31 Jul 2007 11:59:09 +0000 http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128297 No, these are not sub-prime; sub-primes are loans made to those with substandard credit. Originally, to qualify for a no-doc or low-doc you had to have outstanding credit (they were designed for people with irregular but high incomes, like top salespeople). In recent years they, too, were extended to people with less than stellar credit or income, like many other mortgage loans, but that is not what they were originally intended for. No, these are not sub-prime; sub-primes are loans made to those with substandard credit. Originally, to qualify for a no-doc or low-doc you had to have outstanding credit (they were designed for people with irregular but high incomes, like top salespeople). In recent years they, too, were extended to people with less than stellar credit or income, like many other mortgage loans, but that is not what they were originally intended for.

]]> By: DayNovo http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128285 DayNovo Mon, 30 Jul 2007 22:59:54 +0000 http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128285 American Home's problems were not helped by a desperate attempt to slip out some more bad news in the wee hours after the bell Friday. For further analysis click here: http://sneakybusiness.typepad.com/sneaky/2007/07/how-to-hide-bad.html American Home’s problems were not helped by a desperate attempt to slip out some more bad news in the wee hours after the bell Friday.

For further analysis click here:
http://sneakybusiness.typepad.com/sneaky/2007/07/how-to-hide-bad.html

]]> By: Ken http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128284 Ken Mon, 30 Jul 2007 19:29:09 +0000 http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128284 <i>and Alt-A loans, which often require less or no documentation of a home buyer’s income.</i> They're also known as "liar loans." and Alt-A loans, which often require less or no documentation of a home buyer’s income.

They’re also known as “liar loans.”

]]> By: gcc burger http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128282 gcc burger Mon, 30 Jul 2007 19:04:28 +0000 http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128282 "<i>American Home’s shares have been hit hard by turmoil in the subprime mortgage market, despite the fact that the company doesn’t offer those types of home loans. The company specializes instead in adjustable-rate mortgages and Alt-A loans, which often require less or no documentation of a home buyer’s income.</i> And these aren't somehow subprime? WTF? Maybe they're sub-sub-prime. “American Home’s shares have been hit hard by turmoil in the subprime mortgage market, despite the fact that the company doesn’t offer those types of home loans. The company specializes instead in adjustable-rate mortgages and Alt-A loans, which often require less or no documentation of a home buyer’s income.

And these aren’t somehow subprime?

WTF?

Maybe they’re sub-sub-prime.

]]> By: Iron skunk http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128279 Iron skunk Mon, 30 Jul 2007 18:20:19 +0000 http://susiemadrak.com/2007/07/30/14/11/the-domino-effect/#comment-128279 Caught. Cookie jar. Hand in. Is there anyone left who doesn't believe/hasn't been brainwashed into believing that: debt equals wealth? I always thought the most perverse thing I've ever heard of was lenders selling debts to speculators. Caught. Cookie jar. Hand in. Is there anyone left who doesn’t believe/hasn’t been brainwashed into believing that: debt equals wealth? I always thought the most perverse thing I’ve ever heard of was lenders selling debts to speculators.

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