Comments on: Crack of Doom: Better Fed than Dead http://housingdoom.com/2008/08/25/crack-of-doom-better-fed-than-dead/ Sat, 11 Feb 2012 07:12:54 +0000 hourly 1 http://wordpress.org/?v= By: wcvarones http://housingdoom.com/2008/08/25/crack-of-doom-better-fed-than-dead/#comment-13831 wcvarones Tue, 26 Aug 2008 16:24:52 +0000 http://housingdoom.com/?p=1592#comment-13831 I just got off a conf call with Citi analysts. They were pounding the table on the GSEs, happily answering questions for an hour and a half, until... (paraphrasing) Q: What about the fact that their capital is largely deferred tax assets that they'll never be able to recognize? A: That kind of detail should be taken off-line. Let's move on to the next question. I just got off a conf call with Citi analysts. They were pounding the table on the GSEs, happily answering questions for an hour and a half, until…

(paraphrasing)

Q: What about the fact that their capital is largely deferred tax assets that they’ll never be able to recognize?

A: That kind of detail should be taken off-line. Let’s move on to the next question.

]]> By: John M. http://housingdoom.com/2008/08/25/crack-of-doom-better-fed-than-dead/#comment-13830 John M. Mon, 25 Aug 2008 22:59:28 +0000 http://housingdoom.com/?p=1592#comment-13830 CRisk just <a href="http://calculatedrisk.blogspot.com/2008/08/take-load-off-fannie.html" rel="nofollow">posted this</a>: <p> <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/712kRqri2No&color1=11645361&color2=13619151&hl=en&fs=1"></param><param name="wmode" value="transparent"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/712kRqri2No&color1=11645361&color2=13619151&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" wmode="transparent" width="425" height="344"></embed></object> </p> CRisk just posted this:

]]> By: mtnmike http://housingdoom.com/2008/08/25/crack-of-doom-better-fed-than-dead/#comment-13829 mtnmike Mon, 25 Aug 2008 13:40:53 +0000 http://housingdoom.com/?p=1592#comment-13829 John, As I stated in an earlier post, the banks'overstated balance sheets are based on exaggerated numbers when compared to the actual value of their underlying collateral. This pesky fact is not contained to housing. As values fall for SUVs, Boats, Motor-homes, ATVs, Trucks...the entry in the banks' ledgers remains the same, that is until they become the proud owners of the overstated assets. Did I say assets? John,

As I stated in an earlier post, the banks’overstated balance sheets are based on exaggerated numbers when compared to the actual value of their underlying collateral.

This pesky fact is not contained to housing. As values fall for SUVs, Boats, Motor-homes, ATVs, Trucks…the entry in the banks’ ledgers remains the same, that is until they become the proud owners of the overstated assets. Did I say assets?

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