Thursday, August 31, 2006

Business Week Expose on Mortgages

Businessweek has an expose on the Toxic Mortgages out there.

http://tinyurl.com/po4qc


Here is a great graph from the report:


8 comments:

smoggiebakersfield said...

It's going to be a complete blood bath. Still we see bloated housing prices. The banks will be in control of many empty houses, here soon. These idiot buyers would rather go down with the house, rather than cut the Price!

Anonymous said...

What do you expect when a cocky young guy rides the bubble?

Does that guy still have his McLaren Mercedes or did the leasing company take it back?

Bakersfield real estate mogul David Crisp, 26, who once loaded UPS trucks for a living, now drives a $560,000 Mercedes-Benz McLaren sports car.

http://www.sacbee.com/content/business/projects/boom/story/13702903p-14545580c.html

Did he get fried to a Crisp?

I meant to put my comment on this post.

smoggiebakersfield said...

It's kinda odd, old man Cole and young buck Crisp, teamed up. Wonder if the two were playing hide the Wonder Bread!

Bakersfield Bubble said...

Smoggie-

LMAO!!!

Anonymous said...

He is not fried - YET!!

Anonymous said...

What's up with Fargo ND?

pismobear said...

Did they find anything when they alledgedly raided his office?

Bakersfield Bubble said...

Pismo -

Heard rumors from 2 realtors, a mortgage broker and local banker in the same building. None of these people know each other.

Did you say you heard Crabtree speak recently?