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Friday, October 15, 2010

Selling into the GOOG ramp

Selling a bit into this morning's strength, as I think the archaic idea of property rights for homeowners isn't so archaic!

I've seen this movie before!

4 comments :

Anonymous said...

That just means it's time to buy!

whydibuy said...

Can't get a read on this mortgage stuff.

Sure, homeowners who stopped paying may fight to stay in their house..........but they are also inviting banks to seek out prosecutions for perjury on the loan applications. So far, banks have let all the legal stuff slide but if push comes to shove, and these crooked home buyers push it, they just may end up in criminal court.

I just surprised the cdo holders haven't pushed for bank buybacks of these things since they were fraudulently sold as having been checked out as legitimate, creditworthy buyers.

Palmoni said...

I bought some of the big banks a few weeks ago, but I kicked them all out...

I think this problem is more confined to the banks--but I think that means it helps the economy because of the foreclosure stimulus..

If you go back a couple of years--you have a lot of people that were going to get kicked out of their houses..

but this foreclosure gate, means homeowners won't have to spend as much on lawyers, and they'll stay longer in their house--allowing the iPhone, iPad economy to stay hopping...until they get some jobs

so the economy's problems, because of foreclosuregate get kicked down the road--but tyhe banks will have to eat some losses--and rightly so!!

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