Tuesday, October 5, 2010

Disorder in the markets....

The mortgage mess reminds me of the genius of the Stooges. Yes, there are plenty of stooges today, better known as the bankers and their cohorts. I am concerned we might end up seeing some DISORDER in the financial markets, not to mention housing markets over this mortgage debacle. The outcome won't be a happy one like this 3 Stooges short. Oh, LPS is really standing out as the ugliest girl at the dance.
http://www.nakedcapitalism.com/2010/10/lender-processing-services-tries-to-claim-that-recent-disclosures-are-mischaracterizations.html

"A tarantula!" lol. "Gentlemen, you must control your killing instincts...."

2 comments:

Thomas Jefferson said...

Jim this housing problem has been here since 2006(the peak) and before the peak. there are many properties for sale by the banks just sitting around for three years meanwhile prices go lower. the banks will not foreclose on these properties 1.legal issue 2 cost 3 implementation and further destruction of home prices.

look forward to connecting with you all.
http://www.harborstandard.blogspot.com
twitter @ HarborStandard
Facebook Harbor Waves

A Wise Degenerate said...

Banks will not foreclose and will not sell the property because of the loss on their balence sheets. Which would make them insolvant!