If you think the bank won’t foreclose on you – you should head to Mexico next week with me (I will be vacationing – not hiding – with Mrs. Lindzon) – because they will and are ready.
You can’t even begin thinking about a bottom in banks until we see the banks just own up and put people out of their misery. They are starting.
There is TONS of money on the sidelines just itching to peck away and get their greedy hands on the banks new paper.
New fortunes are about to be made as the rich get richer and the newbies face foreclosure…the financial circle of life continues uninterrupted.
PS – Citibank continues to give us nice hedge fund managers bad names with this crap . Note to Citibank…if your investors are panicked after a 10 percent drop:
A. You are down way more than 10 percent you lying sacks of mark to market scumbags, or
B. They were sold something they did not understand
Distress does not happen overnight. EVER. It comes from months and months of bullshit reporting and lack of real communication with your partners. Shameful.
Yes what the F*@$%… 10% these days and total panic,, people need to realize that in order to provide returns draw downs are part of the business, I run a global trend fund for 8 years i would be out of business if i stopped on a 10% draw down…insane culture developed on wall street last 10 years no wonder it is falling apart…. thank god i left NY