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Trucker Forum - Trucking & Driving Forums - Class A Drivers (https://www.classadrivers.com/forum/)
-   Owner Operators Forums (https://www.classadrivers.com/forum/owner-operators-forums-105/)
-   -   Rates may have not yet bottomed?? (https://www.classadrivers.com/forum/owner-operators-forums/38660-rates-may-have-not-yet-bottomed.html)

Dejanh 10-31-2009 02:12 PM
Originally Posted by no_worries (Post 466576)
The secondary market is where the mortgage originators sell their assets.

Banks and private mortgage companies provide the funding for the great majority of all mortgages. However, they usually prefer not to keep those assets on their books. They sell the mortgages on the secondary market to companies that securitize them by packaging them into MBS's which in turn are sold to investors. The government is a huge player in the secondary market through Ginnie Mae, Fannie and Freddie. None of those companies actually make loans to borrowers. They buy already existing mortgages in order to maintain liquidity in the market.
Wal Street, being what it is, with their MBS's, derivatives and what else, makes economics much more confusing that it should be. Thats how they make their money. You can make ten more morgage markets on the top of that ,,secondary'' that you're talking about and they all come down to one place. There is only one morgage market and not another one.
Originally Posted by no_worries (Post 466576)
Of the 90% that I mentioned, almost all of those are guaranteed by, not actually owned by the Feds.
If government guarantees something, it owns it. If that asset defaults who is gonna backstop it other than the crooks who are guaranteeing it against the default? If it wasnt for the feds owning the financial system as a whole, there would be no banks to have those assets in the first place.

Originally Posted by no_worries (Post 466576)
The government actually does very little direct lending.
No, they only own those who do lend...

Federal Reserve is the lender of the first choice. American Express became a deposit holding company just so that they can borrow from the Fed, so did GMAC, JP Morgan and all other commercial banks who shouldnt be.Banks are borrowing at .25% right now and people wonder why their stock is up. They borrow capital which is not real from the agency who can create it out of thin air......but for how long?

Our bubble economy just keeps getting bigger.

BigWheels 11-01-2009 11:52 PM
CIT Group became a bank holding company and received 2.3 Billion from the TARP program.

Now they are bankrupt. Perhaps the fourth largest bankrupcy in American history (so far).

AIG, Citigroup (different from CIT Group), and Bank of America have received 100 Billion from the TARP program.

Yikes.

LightsChromeHorsepower 11-05-2009 06:51 PM
[QUOTE=
Our bubble economy just keeps getting bigger.[/QUOTE]

And we now know what happens to bubbles.

LightsChromeHorsepower 11-05-2009 06:51 PM
[QUOTE=Our bubble economy just keeps getting bigger.[/QUOTE]

And we now know what happens to bubbles.

Dejanh 11-14-2009 10:17 AM
Originally Posted by LightsChromeHorsepower (Post 466936)
And we now know what happens to bubbles.
..ummmmm, they get bigger it seem ?

Useless 11-30-2009 03:52 PM
Just got off the phone with my financial adviser, Mr. Mel Scheister, with the financial consulting firm of Wheecan, Lyon, Steelwell, LLP.

Looks like 2010 is shaping up as a promising year for chain letters and pyramid schemes!!

:smokin:


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