Monday, March 17, 2008

Four months ago, a prophet spoke...

Tuesday, November 27, 2007
Getting That Old Dotcom Feeling
Posted by emily1 at 9:34 PM

anyone else out there thinking that the financial industry has been smoking crack for the last ten years? anyone want to take bets on when the first big bank goes under? will i be wiping my ass with dollar bills next year because they're worth less than toilet paper?

the mortgage rate interest resets won't peak until next year. soft landing, my rosy red ass.

The first big bank just went under, and Lehman Brothers is next!

I await the day I can wipe my bum with dollar bills.


emily1 said...

well, if we're including banks that avoid certain bankruptcy by getting purchased by another bank under the heading of 'going under' then the first big bank to go under was Countrywide.

emily2 said...

Countrywide's bread and butter, I thought, was mortgage lending. When Countrywide went under, I was like "Well... figures..." Bear Stearns is a full service investment bank. When institutional investors started a bank run on Bear Stearns, I was like "Oh shit!"