Quote:
Originally Posted by montel
You need to get on the phone to your broker asap and tell him you want to buy some mortgage backed bonds! If you are right you will make a killing! You say these securities that are referred to as 'toxic' and 'junk' are under-priced?!?! GET IN THERE NOW! Also, when you are ballin after you make cash on them during the upswing you can phone up the losers from Merrill/Lehman/Bear who got it all wrong and missed the windfall profits!
The good news for you is that if you havent bought any, and you are a US taxpayer, Paulson has already done that for you with your tax dollars!
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Some of those mortgage backed bonds were selling for as little as $.20 on the dollar. That's ridiculous, and it's driven purely by fear and not the facts on the ground. That's what needs to be stemmed, is the fear.
No question people will still lose money. Many of the institutions that contribued to the excess are gone and the ones that end up surviving will be very different.