You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #59: Even so.. [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
sendero Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-09-08 04:53 PM
Response to Reply #8
59. Even so..
.. it would be useless. You cannot squeeze blood from a turnip. What's the bank gonna do, take you house back? They don't need that either.
Printer Friendly | Permalink |  | Top
 
  -JPM margin call warning - my favourite financial blog says "The Game is Over". Here's why. GliderGuider  Mar-09-08 02:02 PM   #0 
  - Hmmmm? I better plant a bigger garden this year.  Uben   Mar-09-08 02:08 PM   #1 
  - cash meaning cash in hand?  gristy   Mar-09-08 02:24 PM   #2 
  - An FDIC insured account does you no good...  Wednesdays   Mar-09-08 02:38 PM   #6 
  - elsewhere a DUer posted that there is often language in mortgage docs  salin   Mar-09-08 02:39 PM   #8 
  - Even so..  sendero   Mar-09-08 04:53 PM   #59 
     - My guess is that if the bank were to go into default  salin   Mar-09-08 05:01 PM   #64 
        - That might be the case.  backscatter712   Mar-09-08 06:56 PM   #88 
  - What loan?  gristy   Mar-09-08 02:52 PM   #14 
  - FDIC is there to protect the banks, not the depositors, no matter what they tell you.  GliderGuider   Mar-09-08 03:03 PM   #22 
     - Why are you assuming all of the banks are going to fail?  high density   Mar-09-08 05:05 PM   #66 
        - "One guy on one blog"? GMAFB  GliderGuider   Mar-09-08 05:30 PM   #71 
        - Well show the proof that Bank of America et al are on the brink of failure  high density   Mar-09-08 05:41 PM   #75 
           - agreed... but  salin   Mar-09-08 05:46 PM   #77 
           - It doesn't start with the Bank of America.  GliderGuider   Mar-09-08 05:49 PM   #79 
        - what about pensions like TERS and PERS?  roguevalley   Mar-09-08 10:41 PM   #90 
  - Your lender can only demand payment in full...  Snarkoleptic   Mar-09-08 02:55 PM   #19 
  - you may have just answered a question I raised down thread...  salin   Mar-09-08 03:05 PM   #23 
  - Perhaps, but most loans aren't owned by banks, and in many cases, the ones that ARE...  elehhhhna   Mar-10-08 04:38 PM   #107 
  - As long as too many banks don't fail  salin   Mar-09-08 02:38 PM   #7 
  - yes, that is the best place for your money  CountAllVotes   Mar-09-08 03:08 PM   #28 
  - How bilblical and ironic...  Wednesdays   Mar-09-08 02:30 PM   #3 
  - That is the best use of a Bible quote in context that I have seen in awhile  Elspeth   Mar-09-08 02:52 PM   #15 
  - typical term of margin call is 72 hours  DemReadingDU   Mar-09-08 02:35 PM   #4 
  - IF and When  DemReadingDU   Mar-09-08 02:47 PM   #10 
     - It reads like there are levels - top bank  salin   Mar-09-08 02:57 PM   #20 
        - That's how I read it too.  GliderGuider   Mar-09-08 03:06 PM   #24 
        - So this 'margin calling' process could go on for weeks/months  DemReadingDU   Mar-09-08 03:13 PM   #31 
           - Yes. Don't expect this to all unwind within the next six months.  GliderGuider   Mar-09-08 03:16 PM   #33 
           - It reads like.. if a bank can't pay the margin  salin   Mar-09-08 03:26 PM   #38 
  - Thanks for posting this here  salin   Mar-09-08 02:37 PM   #5 
  - How can they call in home loans being paid on time?  williesgirl   Mar-09-08 02:41 PM   #9 
  - If the value of the home has dropped below the balance owed (it's "under water"), or...  GliderGuider   Mar-09-08 02:48 PM   #11 
  - Thanks - are you then able to make up the diff in the value vs loan?  williesgirl   Mar-09-08 02:51 PM   #13 
  - I think it would depnd on how desperate the lender is.  GliderGuider   Mar-09-08 02:54 PM   #18 
     - as I read the article and the original article from Reuters,  salin   Mar-09-08 03:01 PM   #21 
     - nah  northzax   Mar-09-08 04:47 PM   #58 
  - I disagree with you that "call" clauses in mortgage loans are common in the U.S.  amandabeech   Mar-09-08 03:58 PM   #47 
     - How about, "For sufficiently small values of 'common'"?  GliderGuider   Mar-09-08 04:20 PM   #51 
  - Breach of covenant. That said, no one wants to do that. This line of thought is dumb.  BadgerLaw2010   Mar-09-08 06:06 PM   #82 
  - I advised someone around here to do just this  CountAllVotes   Mar-09-08 02:49 PM   #12 
  - I've been toying w/doing this but am scared. Have lost $25K since Oct and wanted to see if it'd  williesgirl   Mar-09-08 02:53 PM   #16 
  - my relatives I mention are still *waiting* too ...  CountAllVotes   Mar-09-08 03:12 PM   #30 
  - Can you risk losing it all? Take what you have left out NOW!  Texas Explorer   Mar-10-08 12:55 PM   #103 
  - I'm not really in the stock market, have money market fund  DemReadingDU   Mar-09-08 02:54 PM   #17 
  - Perhaps they're still getting income  Warpy   Mar-09-08 03:08 PM   #27 
  - if they lost 60% of what they have  CountAllVotes   Mar-09-08 03:15 PM   #32 
  - "survive on a 90% income cut "  annabanana   Mar-09-08 04:56 PM   #61 
  - I'll be in a house  Warpy   Mar-09-08 06:59 PM   #89 
  - Yes but typically...  sendero   Mar-09-08 04:58 PM   #62 
  - Forget the insurance, it is only as good as the resources it has to cover the losses  greyhound1966   Mar-09-08 03:23 PM   #36 
     - try a credit union  CountAllVotes   Mar-09-08 03:39 PM   #42 
     - From what I understand, the credit union I do business with  Wednesdays   Mar-09-08 04:13 PM   #50 
        - wow that is really scary  CountAllVotes   Mar-09-08 04:32 PM   #55 
           - then you have an odd credit union  northzax   Mar-09-08 04:55 PM   #60 
     - FDIC to Add Staff as Bank Failures Loom  DemReadingDU   Mar-09-08 04:00 PM   #48 
  - So this is why the preparations for martial law  Elspeth   Mar-09-08 03:06 PM   #25 
  - If martial law is declared, do banks shut down?  williesgirl   Mar-09-08 03:07 PM   #26 
  - I suspect they've seen this coming for the last couple of years.  GliderGuider   Mar-09-08 03:12 PM   #29 
  - this is why they have been ramping up the infrastructure of the police state since reagan  datasuspect   Mar-09-08 03:29 PM   #40 
  - As someone who knows  Delphinus   Mar-09-08 03:17 PM   #34 
  - I'd pay off debt if it was me  CountAllVotes   Mar-09-08 03:22 PM   #35 
     - Thanks.  Delphinus   Mar-09-08 03:25 PM   #37 
        - you are very welcome  CountAllVotes   Mar-09-08 03:28 PM   #39 
        - Good luck, CAV -  Delphinus   Mar-09-08 04:24 PM   #53 
        - I was really just saying, "Stay out of the F'ing Stock Market!!!1!11!"  GliderGuider   Mar-09-08 03:32 PM   #41 
           - Haha!  Delphinus   Mar-09-08 04:23 PM   #52 
  - I will fight their call in with bullets.  lonestarnot   Mar-09-08 03:45 PM   #43 
  - How can you fuck up a nation in only 8 years?  Rex   Mar-09-08 03:47 PM   #44 
  - "We mucopurulent republicon homelanders have our ways. Shock and awe, baby." - Commander AWOL  SpiralHawk   Mar-09-08 04:27 PM   #54 
     - It dawned on me yesterday what they mean by 'fight them over there  Rex   Mar-09-08 04:33 PM   #56 
  - The Fed will probably pay it  CGowen   Mar-09-08 03:52 PM   #45 
  - Saying that banks will call in your mortgage loan is a straight up untruth  EvolveOrConvolve   Mar-09-08 03:56 PM   #46 
  - We'll see. I'd expect a series of widening ripples as the level of desperation increases.  GliderGuider   Mar-09-08 04:07 PM   #49 
     - You clearly don't understand what is happening.  sendero   Mar-09-08 05:04 PM   #65 
     - I agree with you about banks.  GliderGuider   Mar-09-08 05:23 PM   #69 
     - You do not understand real estate. Real estate is not liquid. There's no "cash" there.  BadgerLaw2010   Mar-09-08 06:11 PM   #83 
        - Well that's a relief, then. We'll all get to keep our homes.  GliderGuider   Mar-09-08 06:24 PM   #87 
           - The home mortgages that banks called in during the Great Depression  fasttense   Mar-10-08 09:39 AM   #93 
  - I'm going to get drunk.  alfredo   Mar-09-08 04:44 PM   #57 
  - DOOOO OO O oo oo oooo o mmmmmmm!!!1111  jpak   Mar-09-08 04:59 PM   #63 
  - Cash is NOT king when there is no gold standard...  roamer65   Mar-09-08 05:09 PM   #67 
  - It sure beats Nortel shares...  GliderGuider   Mar-09-08 05:18 PM   #68 
     - Yes it does and I am glad to hear you sounding warning bells.  roamer65   Mar-09-08 05:26 PM   #70 
        - Regarding Zimbabwe  GliderGuider   Mar-09-08 05:40 PM   #74 
           - Let's see if they get to the level of post-WW1 Germany...  roamer65   Mar-09-08 05:44 PM   #76 
  - foreclosing on homes  NJCher   Mar-09-08 05:35 PM   #72 
  - K & R. I feel sick to my stomach.  TheGoldenRule   Mar-09-08 05:37 PM   #73 
  - Ditto! K&R nt  laylah   Mar-09-08 05:46 PM   #78 
  - I thought it was illegal to call in a loan like that if the borrower's making his payments on time.  backscatter712   Mar-09-08 06:01 PM   #80 
  - It depends on the mortgage. There are "demand clauses" in some that could have that result  GliderGuider   Mar-09-08 06:12 PM   #84 
  - what do they think they'll get from students?  RainDog   Mar-09-08 06:02 PM   #81 
  - garnish future wages?  salin   Mar-09-08 06:12 PM   #85 
  - I think we're going to see a huge wave of personal bankruptcies as this juggernaut gets rolling  GliderGuider   Mar-09-08 06:15 PM   #86 
     - Bankruptcy rate in 2008 is expected to equal the rate during the Republican Great Depression.  fasttense   Mar-10-08 10:02 AM   #94 
  - Cash is crap right now. Gold is king.  El Pinko   Mar-09-08 11:04 PM   #91 
  - morning kick  DemReadingDU   Mar-10-08 07:23 AM   #92 
  - Fuck em  Indenturedebtor   Mar-10-08 10:25 AM   #95 
  - Life in the mountains is a real struggle. First there are critters you don't have to contend with i...  Mountainman   Mar-10-08 10:52 AM   #99 
  - And still Dubai builds and builds and builds......  WinkyDink   Mar-10-08 10:30 AM   #96 
  - that's the problem -- cash is king -- where do you put your cash?  antigop   Mar-10-08 10:45 AM   #97 
  - WRONG!  masmdu   Mar-10-08 10:51 AM   #98 
  - Wow, such sage advice  Wednesdays   Mar-10-08 11:22 AM   #100 
  - Yeah, those stupid hedge funds and the Fed - what do they know about anything?  GliderGuider   Mar-10-08 11:44 AM   #101 
  - i'm sitting on a stack of cash-is it safer buying a tbill through a brokerage or treasury direct ?  natrat   Mar-10-08 12:39 PM   #102 
  - they all need the money back  NanBo   Mar-10-08 02:33 PM   #104 
  - afternoon kick  DemReadingDU   Mar-10-08 02:33 PM   #105 
  - Breathing a sigh of relief  bain_sidhe   Mar-10-08 04:26 PM   #106 
  - Sorry I'm too late to recommend. Nice find, GliderGuider!  robertpaulsen   Mar-10-08 05:34 PM   #108 
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC