6 replies to this topic

[S.I.M.O.N.]

[jawndissedi]

Prayer answered:

On March 1, a Wall Street analyst at Bear Stearns wrote an upbeat report on a company that specializes in making mortgages to cash-poor homebuyers. The company, New Century Financial, had already disclosed that a growing number of borrowers were defaulting, and its stock, at around $15, had lost half its value in three weeks.

What happened next seems all too familiar to investors who bought technology stocks in 2000 at the breathless urging of Wall Street analysts. Last week, New Century said it would stop making loans and needed emergency financing to survive. The stock collapsed to $3.21.

NY Times - full story

Hell hath no fury like Gretchen Morgenson on a crusade. Don't believe me? Try buying the subprime dips . . .

[S.I.M.O.N.]

when you choose to take a ride on the backs of the weak, expect to take a nasty fall. New highs dead ahead, subprime or noprime.

[jawndissedi]

New highs dead ahead, subprime or noprime.

Ah yes, the Eternal Sunshine of the Uniformed Mind . . .

[Jnavin]

And what can we deduce about Bear Stearns?

[S.I.M.O.N.]

New highs dead ahead, subprime or noprime.

Ah yes, the Eternal Sunshine of the Uniformed Mind . . .

thank you for the compliment, rather have a uniformed mind then no mind at all

[da_cheif]

New highs dead ahead, subprime or noprime.

Ah yes, the Eternal Sunshine of the Uniformed Mind . . .

thank you for the compliment, rather have a uniformed mind then no mind at all