6/3 Mr Mortgage – News Picks of the Day!

Posted on June 3rd, 2008 in Mr Mortgage - News Picks of the Day!

Lehman May Have to Raise Capital – and a ton of it. So, now after the David Einhorn expose‘ and all the other mainstream media outlets finally understand how all the banks are writing up their debt so offset billions is real losses, Lehman may have to come clean. I wonder if those who were short the day of Lehman’s earnings last quarter and who got blown out of the water after they lied and the stock rallied $25, will have any legal action.

Bradford & Bingley Must Buy $4.1 Bil in GMAC Loans – Bloomberg . GMAC is strong-arming them even though the performance of GMAC loans is dismal. GMAC originated loans are “materially worse quality than Bradford & Bingley’s self-sourced book,”. B&B have pared back their buying to the bare minimum required by their contract.

 Chinese Fund Managers Told Not to Dump Stock, or Else – SCMP.com . One would think that over the past two months, US fund managers were told to do the same.

GMAC’s Rescap Needs 3x the Amount of Mney Initially Thought – ML-Implode . What a surprise! I am just tired of the lies. I actually hope that they are lies because if corporate American is this freaking stupid, we don’t have a chance.

 LEHMAN Issues Statement Regarding Recent Capital Rasing Rumors – http://www.tickerforum.org . This is from my buddies over at TF.

3 Responses to “6/3 Mr Mortgage – News Picks of the Day!”

  1. Hi Hedge,

    Any truth to the rumor that CFC has stopped foreclosures?

  2. “Chinese Fund Managers Told Not to Dump Stock, or Else – SCMP.com . One would think that over the past two months, US fund managers were told to do the same.”

    >>This is absolutely the one biggest factor holding up the Dow. I predicted back in January that when the fund managers re-tool thier funds in June, watch out. If they haven’t been told, watch them all jump out of financials like the friggin’ Titanic.

    Next question…as these banks and speculation firms (I refuse to call them investment firms anymore) need to raise capital, just who is going to be fool enough to lend it to them? If you guessed your federal government, you win the prize. The prize will mostlikely be a huge tax increase, but it will be a small price to pay to get us out of this mess.

  3. Mr. Mortgage, China is in the totally different shoes, Chinese stocks have been slashed for over 40% already, now is the very good opportunity to buy and hold, just as Jim Rogers did.

    In fact, the reckless expansion of US capitalism has turned China into the next super power country in the world, although the recent quake has delayed the process.

    It is very clear now, with the sink of US economy, world market is going to tumble, a lot of small countries, without big population, relying on US market, will be suffered a lot with the down of empire.

    Even China can not avoid. In the first half of 2008, many Chinese factories went broke for the sake of US merchants could not afford to pay off their orders.

    US’s situation is just as that of China in 1980-1990, traditional companies down, domestic market shrunk, people were desparate.

    It will take years for US to recover, very unfortunately.

    Great investors like Jim Rogers, has to leave this country. Great economist like Krugman, Peter Schiff, are ignored and laughed at all the time.

    The only one who could make the difference, Mr. Ron Paul, on the other hand, was dumped by our nation itself.

    It is so sad.

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