[VO]: OT: Numbers and cucumbers

[R C Macaulay]

Howdy Vorts,
Ever get the feeling the govmnet may be stretching the truth about subprime 
mortgage actual losses. Do the math of actual true losses to the banking and 
lending industry on foreclosures. Using Detroit as an example,, figures 
reported show 10,000 homes were in the loop last quarter for foreclosing.. 
figure the actual loss to the lender equates  150k per home.. that's 1.5 bil 
loss. Multiply that figure across the nation and an estimate of under 300 bil 
can be a reasonable combined loss to all lending agencies. The actual loss is 
far below that estimate because of the asset value is tangible.
So far the Fed has pumped nearly one trillion into saving the economy, plus 
lower the interest rates which adjust to some 2.3 trillion alone.  All blamed 
on the subprime mess.. it ain't true!
Where did the money go? The losses claimed by news reports DO NOT ADD UP.
Looking at Bear Stearns , we learn that money people were borrowing 90% of 
stock value to buy stocks and securities. Some reports indicate the fast buck 
guys were putting up 1 mil to finance a bil in stock purchases. making a 
killing on the spread and repeating the process.. margin calls put the 
speculators in real jeapardy and as the pyramid began to topple, people like 
Bear Stearns wound up with some 500 billion in unrecovered loans outstanding 
and stock prices plummeting when the Dow dropped from 14 to 12.  
Anyway you figure there was some 5-25 trillion losses with a 2000 point Dow 
spread.
This is where the losses are and not the subprime.. sumbuddys blowing smoke and 
it's name is chairman budinski. 
Turning the SEC over to the Fed is tantamount to the fox guarding the 
henhouse.. or letting the Houston welfare office keep their own books.
Meanwhile back at the ranch, our employees are enrolled in a supposed annuity 
plan developed by Fortis Benefit Guaranty Corp.. well.. err.. it seems this 
was gerramandered into a sorta 401 k instead of a annuity insurance  when 
Fortis went to Holland and sold the pig to Hartford Insurance, and now to 
Edward Jones.. and its keyed to the mutuals. A simple statement on actual worth 
of a typical  annuity with contributions of 2,000.00 per year ( the company 
forks over the money) now looks like the us dollar vs the Euro.
And the solution offered by the US govment.. lets combine and put everything 
under the Fed, a private business owned by 12 banks.. well used to be US banks 
but..
The reason?? because the Fed has demonstrated thier ability to think above the 
problem.. which to Texans mean throw enough money at the problem to create a 
bigger problem and forget the first.
Richard

Re: [VO]: OT: Numbers and cucumbers

[Michael Foster]

That's a very informative analysis, Richard. Thanks.


--- On Wed, 4/2/08, R C Macaulay [EMAIL PROTECTED] wrote:

 From: R C Macaulay [EMAIL PROTECTED]
 Subject: [VO]: OT: Numbers and cucumbers
 To: vortex-l@eskimo.com
 Date: Wednesday, April 2, 2008, 7:54 PM
 Howdy Vorts,
 Ever get the feeling the govmnet may be stretching the
 truth about subprime mortgage actual losses. Do the math of
 actual true losses to the banking and lending industry on
 foreclosures. Using Detroit as an example,, figures
 reported show 10,000 homes were in the loop last quarter
 for foreclosing.. figure the actual loss to the lender
 equates  150k per home.. that's 1.5 bil loss. Multiply
 that figure across the nation and an estimate of under 300
 bil can be a reasonable combined loss to all lending
 agencies. The actual loss is far below that estimate
 because of the asset value is tangible.
 So far the Fed has pumped nearly one trillion into
 saving the economy, plus lower the interest
 rates which adjust to some 2.3 trillion alone.  All blamed
 on the subprime mess.. it ain't true!
 Where did the money go? The losses claimed by news reports
 DO NOT ADD UP.
 Looking at Bear Stearns , we learn that money people were
 borrowing 90% of stock value to buy stocks and securities.
 Some reports indicate the fast buck guys were putting up 1
 mil to finance a bil in stock purchases. making a killing
 on the spread and repeating the process.. margin calls put
 the speculators in real jeapardy and as the pyramid began
 to topple, people like Bear Stearns wound up with some 500
 billion in unrecovered loans outstanding and stock prices
 plummeting when the Dow dropped from 14 to 12.  
 Anyway you figure there was some 5-25 trillion losses with
 a 2000 point Dow spread.
 This is where the losses are and not the subprime..
 sumbuddys blowing smoke and it's name is chairman
 budinski. 
 Turning the SEC over to the Fed is tantamount to the fox
 guarding the henhouse.. or letting the Houston welfare
 office keep their own books.
 Meanwhile back at the ranch, our employees are enrolled in
 a supposed annuity plan developed by Fortis
 Benefit Guaranty Corp.. well.. err.. it seems this was
 gerramandered into a sorta 401 k instead of a annuity
 insurance  when Fortis went to Holland and sold the pig to
 Hartford Insurance, and now to Edward Jones.. and its keyed
 to the mutuals. A simple statement on actual worth of a
 typical  annuity with contributions of 2,000.00
 per year ( the company forks over the money) now looks like
 the us dollar vs the Euro.
 And the solution offered by the US govment.. lets combine
 and put everything under the Fed, a private business owned
 by 12 banks.. well used to be US banks but..
 The reason?? because the Fed has demonstrated thier ability
 to think above the problem.. which to Texans mean throw
 enough money at the problem to create a bigger problem and
 forget the first.
 Richard


  

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