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Bank Of America Prepares To Launch Credit Bubble v2.0, Organizes First US Securitization Research Conference

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Sat, 04/17/2010 - 18:42 | 306052 Number 156
Number 156's picture

I'll help kick it off by pulling my money out of BofA.

Sat, 04/17/2010 - 19:05 | 306072 excellent
excellent's picture

Usually I'd say that people are happier than me because they are oblivious to what's going to happen and what has occurred.

 

Not so in this case.

I'd have to venture to say that... well... this time aroun most people I've discussed these matters with have just become depressed on the realization that no, I'm not talking out of my ass, and yes, anything to do with anyone that isn't well-connected and brimming with so much wealth they already have 20 yachts to escape on is totally screwed.

Sat, 04/17/2010 - 19:13 | 306083 girl money
girl money's picture

We need a ZH spy to get into this conference with a recording device.

Sat, 04/17/2010 - 20:20 | 306143 Tethys
Tethys's picture

Ummm, let's see.

It worked in the '80s and '90s with the Savings and Loan crisis to the tune of ~$124 billion transferred from taxpayers to banksters.

Then it worked again, perfectly, from 2007-2010. This time netting around $12 trillion and counting.  Not even a hint of a perp walk. Almost exactly the same playbook with some complexity sprinkled on top.  Two orders of magnitude increase in $$ transfer from the taxpayer.

Now, why would they ever consider doing it again?  Anyone? Bueller?

http://en.wikipedia.org/wiki/Savings_and_loan_crisis

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5995810/...

 

 

Sat, 04/17/2010 - 20:49 | 306177 ZeroPower
ZeroPower's picture

Securitization isn't a bad thing. Its when you start securitizing previously securitized securities (...) where the products get murky.

I suppose though this conference won't be on bundling plain mortgages into such an arcane item called an MBS 0.o

Sat, 04/17/2010 - 20:53 | 306180 RobotTrader
RobotTrader's picture

As a 25 year banking veteran....

I can say its the same routine over and over.

They are re-cranking the securitization bubble so they can "earn their way out" of the mistake of buying Countrywide.

The executives in charge of the scheme figure that if this thing blows up again, they will be long gone, working for another institution, and will suffer no damage personally.

Bankers just jump from one shop to another, everyone covering up or fixing the other guy's mistakes.

Sat, 04/17/2010 - 21:10 | 306198 Brokenarrow
Brokenarrow's picture

Every whore from leh and bsc never nissed a meal. The same bsc PB theives state, "we never missed a paycheck--they just changed from bsc to jpm."

 

It's enough to make me ill...................

Sat, 04/17/2010 - 21:17 | 306202 Grand Supercycle
Grand Supercycle's picture

Overtextended SP500 / DOW daily charts show bearish warnings and the next few days will tell us more.

DOW chart :

http://www.zerohedge.com/forum/latest-market-outlook-0

Sun, 04/18/2010 - 00:36 | 306375 carbonmutant
carbonmutant's picture

Well you can't fault 'em for doin' a a little research.

It's the development phase that you need to worry about.

Sun, 04/18/2010 - 08:28 | 306498 craven moorehea...
craven moorehead the 1st's picture

Securitization Research - isn't this a contradiction in terms

Sun, 04/18/2010 - 08:51 | 306507 girl money
girl money's picture

Guess we could try paying BAC to NOT have this conference and pay them to promise NOT to re-inflate this bubble. 

Like paying the Taliban to not grow poppies for opium!!

Either one will smile, nod, take the money, and go about quietly preparing the next bomb. 

 

Sun, 04/18/2010 - 10:22 | 306557 Problem Is
Problem Is's picture

"Like paying the Taliban to not grow poppies for opium!!"

US Military and CIA Called That One

"Taliban" Opium has been one of the best investment calls for the CIA of the 00's. CIA investment bankers say the industry looks to be a cash cow with all upside on growth in the next decade.

Cramer gives TO a buy...

Sun, 04/18/2010 - 20:46 | 307177 Madcow
Madcow's picture

This will be interesting - they're now trying to finance money that has already been spent - 

 

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