joe_momma
21st October 2010, 08:21 AM
Happy Bank Failure Friday!
With the election just 'round the corner, the FDIC is papering over the cracks in our banking system as fast as possible.
The stunts with robo-signing, CDS, SPVs, and (unfathomable) tranches has made it impossible for anyone to really know what is owned and who owns it - did my SPV buy 1/360 of all mortgage payments, or only the rights to the mortgage amount paid on the 243 installment? -
Last week saw a remarkable 3 failed banks - KS and MO - (oddly, both are red states - I wonder how if a political appointee had anything to do with this - .... Nah!) -
Congratulations go out to 1970 silver art, Apparition, and (unknown) for predicting 3 - though none chose MO or KS for the tiebreaker.
How many go down this week? Please enter your Ruprick tie-breaker if you want.
Best wishes and good luck!
One can follow along at:
http://www.fdic.gov/bank/individual/failed/banklist.html
With the election just 'round the corner, the FDIC is papering over the cracks in our banking system as fast as possible.
The stunts with robo-signing, CDS, SPVs, and (unfathomable) tranches has made it impossible for anyone to really know what is owned and who owns it - did my SPV buy 1/360 of all mortgage payments, or only the rights to the mortgage amount paid on the 243 installment? -
Last week saw a remarkable 3 failed banks - KS and MO - (oddly, both are red states - I wonder how if a political appointee had anything to do with this - .... Nah!) -
Congratulations go out to 1970 silver art, Apparition, and (unknown) for predicting 3 - though none chose MO or KS for the tiebreaker.
How many go down this week? Please enter your Ruprick tie-breaker if you want.
Best wishes and good luck!
One can follow along at:
http://www.fdic.gov/bank/individual/failed/banklist.html