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Thread: NAB: 55% loss on American housing loans

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    Default NAB: 55% loss on American housing loans

    The National Australia Bank's decision to write off 90 per cent of its US conduit loans will have dramatic repercussions around the world.
    ...
    This is an unprecedented event and means that the cost of bailing out the US financial system is now far beyond the highest estimates
    http://www.businessspectator.com.au/...cument&src=stf

    Very busy on Friday
    http://au.finance.yahoo.com/q/bc?s=NAB.AX&t=5d
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
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    Default Re: NAB: 55% loss on American housing loans

    At least the Aussies had the 'balls' to admit the truth of the situation, take their financial 'lumps', and move forward toward a much firmer financial foundation !

    In contrast, US investment banks are hiding 90% of the truth ... they trickle in a few more billions in write-offs every quarter ... they transfer their 'toilet paper' mortgage bonds and CDO's to the US taxpayer via FED discount window loans.

    Now we as taxpayers are on the verge of also being saddled with both a cash bailout and more 'toilet paper' mortgage bonds being dumped at the FED's doorstep in exchange for freshly printed US dollars. The cash bailout figure being bandied about is 25 billion. However, it is an established fact that Fannie and Freddie hold some 5 TRILLION dollars worth of mortgages. If only 10% of those mortgages go belly up, and if a 50% recovery results, instead of 25 billion we're talking about 250 billion !!!

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    Default Re: NAB: 55% loss on American housing loans

    So, pretty soon like Lysondra mentioned - lap dances will become payable with two chickens?
    Last edited by Deogol; 07-26-2008 at 05:27 PM.

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    Default Re: NAB: 55% loss on American housing loans

    Five. Five chickens.


    Look like a woman
    Think like a man
    Act like a lady
    Work like a dog

    - My Great Grandmother Bessie's Recipe for Success

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    Default Re: NAB: 55% loss on American housing loans

    Quote Originally Posted by Lysondra View Post
    Five. Five chickens.
    BUY lap dance, SELL chickens!
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
    - Dr John Zoidberg

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    Default Re: NAB: 55% loss on American housing loans

    And you'll have to pay a "barter tax".

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    Default Re: NAB: 55% loss on American housing loans

    Quote Originally Posted by Lysondra View Post
    Five. Five chickens.
    Inflation already!

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    Default Re: NAB: 55% loss on American housing loans

    ^ Nah, I'm just more expensive than your average two chicken ho.


    Look like a woman
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    - My Great Grandmother Bessie's Recipe for Success

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    Default Re: NAB: 55% loss on American housing loans

    And ANZ follows suit!

    MELBOURNE -- Australia and New Zealand Banking Group Ltd. Monday became the second major Australian bank in days to flag large, credit-related write-downs, warning its profit may fall as much as 25% this financial year due to bad debts.

    ANZ shares fell as much as 13% after the bank said it expects cash earnings per share to fall by 20%-25% in the year ending Sept. 30 due to a worsening of the financial position of some of its corporate borrowers.
    http://online.wsj.com/article/SB1217...googlenews_wsj

    I've heard talk of other happenings, but we'll see how it goes...
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
    - Dr John Zoidberg

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    Default Re: NAB: 55% loss on American housing loans

    Quote Originally Posted by Deogol View Post
    Inflation already!
    150% inflation in a matter of hours... That's worse than Zimbabwe - Ohshi...
    Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor
    - Dr John Zoidberg

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