Local Area Index (Edit under Manage Snippets)

Contact the JustNewListings.com Team for Northern Virginia/Washington DC real estate

If you have any questions or need more detailed information, please feel free to contact us at 785-294-6873 (785-BY-HOUSE) or fill out the form to let us know how we can help with your real estate needs. Being a very busy person---I must tell you email is best so I don't miss the message can paste it on my calendar.

Office Location 1100 N Glebe Rd #1010,
Arlington, VA 22201
Phone: 785-BY-HOUSE
Fax: (703) 224-8121

Thoughts on BS (bear stearns) ???

Posted by Jay Seville on Tuesday, March 18th, 2008 at 8:26am.

BS (Bear Stearns) Intervention or No?

Does anybody have any thoughts on this kind of government intervention into financial markets?  Here's a couple clips of the story with link below:
i don't know

"NEW YORK - Wall Street ended a temperamental session widely mixed Monday after investors grappled with JPMorgan Chase & Co.'s government-backed buyout of the stricken investment bank Bear Stearns Cos."

"The buyout of Bear Stearns was certainly more appealing than the alternative: letting the investment bank collapse and causing huge losses for anyone linked to it. And some unprecedented moves by the Federal Reserve gave investors a bit of solace on what many predicted would be a day of precipitous losses in the stock market.

Besides supporting the buyout, the Fed lowered the rate it charges to loan directly to banks by a quarter-point on Sunday night — two days before its scheduled meeting Tuesday. The central bank also set up a lending option for firms, including many non-bank financial services firms, to secure short-term loans for a broad range of collateral.

The Fed appears to be pledging to do everything in its power to keep the credit crisis from decimating the financial industry and the economy. Policy makers at the central bank are expected to reduce the target fed funds rate — the rate banks charge each other for overnight loans — by at least a half-point on Tuesday, and perhaps even a full point."


To start the comments rolling I just received this response from my favorite lender--feel free to contact me asking why:



BS (good abbreviation) was one of the two biggest bond creators (the other being XXXX) who facilitated the proliferation of Non-Prime, or Sub-Prime bonds labled AAA when they only contained approx 11% full doc (income assets verified) loans. BS was destined to be hung up in world and US courts for years for the packing and labeling of these instrumants to countries, pension funds, insurance companies, and everyone who holds mutual funds and money market accounts.

Good idea for govt to step in, only because it could have created a run on bank and investment bank deposits. It is hard to label this a bailout when the BS stockholders lost over $150 per share in one year. It is punishment for corporate misdeeds. XXXX will be next, and then there will be others. But, probably they do not deserve to be in business. They created markets that would not have existed - no one would have invested in instruments labled accurately - 100% LTV, stated income, interest only, adjustable rates, stated assets, 580 credit score. Loan out to people with no ability to repay.

This would be the equivalent to a realtor selling a home advertised as 5br, custom built new home, and selling the people a brick ranch tear down without any repercussions to you, your company, or your license to operate. This will go down as the biggest bank robbery in the history of the world....

Scott Hardy, Sr. Branch Manager  CMPS
Mortgage Banker | Equity Strategist | Dad
Flagstar Bank | Northern Virginia & all 50 States
[for email address contact me] www.HomeLoansForLife.com
8001 Braddock Road, Suite 101 | Springfield, VA 22151
Direct-703.426.6973  Mobile-703.856.7641 e-fax-888.314.2844

Related Links
Blog Tags

Be the first to comment on this blog entry!


Leave a Comment

My Account

Log in, to view your saved searches and add to your favorite listings.

Sign Up Here For Your FREE Account

... So You Can:

  • View detailed property information
  • Print detailed property flyers
  • Save your searches & favorite homes
  • Inquire about a private showing
  • Map individual property locations
  • Share your favorite homes with friends