S&P cuts Fremont General Rating

Submitted by
CalculatedRisk on Tue, 02/05/2008 - 3:30pm (14 comments)
in
MiTurn wrote on Tue, 2/5/2008 - 3:46 pm

This is becoming bizarre! Truly we are seeing a domino effect. Unfortunately, no knows exactly where all the dominoes are and where the final one is. At least, I don't want to think about that last one.

Nemo wrote on Tue, 2/5/2008 - 3:50 pm

Note to self: Never invest in anything named "General" (or "Générale").

Lawyerliz wrote on Tue, 2/5/2008 - 3:50 pm

I used to close for Fremont. . . back when I still had a real estate practice. I do other stuff, but what are the title companies doing?

Gary wrote on Tue, 2/5/2008 - 3:52 pm

Misty water cooler memories, of the way we earned . . .

Tanta\'s pig wrote on Tue, 2/5/2008 - 3:54 pm

"Unfortunately, no knows exactly where all the dominoes are and where the final one is. "

Final one is US govt.

mp wrote on Tue, 2/5/2008 - 3:55 pm

MiTurn writes:
This is becoming bizarre! Truly we are seeing a domino effect.

Conjure Bag says, "MiTurn, are you sure? Are you really, really, sure?"

Please excuse Conjure. He's temporarily out of cigars.

MiTurn wrote on Tue, 2/5/2008 - 4:05 pm

Conjure Bag says, "MiTurn, are you sure? Are you really, really, sure?"

Someone hold me . . .

Anonymous wrote on Tue, 2/5/2008 - 4:07 pm

mp, here's something, in case Conjure gets down:

YouTube - Badlands - Bruce Springsteen Paris 85

Lights out tonight,
Trouble in the heartland,
Got a head on collision,
Smashin'in my guts, man,
I'm caught in a cross fire,
That I don't understand,
I don't give a damn,
for the same old played out scenes,
I don't give a damn,
for just the in betweens,
Honey, I want the heart, I want the soul,
I want control right now
Talk about a dream,
try to make it real
You wake up in the night,
with a fear so real,
Spend your life waiting,
for a moment that just don't come,
Well, don't waste your time waiting,

Badlands, you gotta live it everyday,
Let the broken hearts stand
As the price you've gotta pay,
We'll keep pushin' till it's understood,
and these badlands start treating us good.

Workin'in the fields
till you get your back burned,
Workin' 'neath the wheel
till you get your facts learned,
Baby, I got my facts
learned real good right now,

Poor man wanna be rich,
rich man wanna be king,
And a king ain't satisfied,
till he rules everything,
I wanna go out tonight,
I wanna find out what I got

I believe in the love that you gave me,
I believe in the hope that can save me,
I believe in the faith
and I pray, that someday it may raise me,
Above these badlands

For the ones who had a notion,
A notion deep inside,
That it ain't no sin to be glad you're alive
I wanna find one face that ain't looking through me
I wanna find one place.
I wanna spit in the face of these badlands

Bruce Springstee

Bill Melater wrote on Tue, 2/5/2008 - 4:08 pm

They say "timing is everything," although I'm told it also could be "location, location, location."

From the timing viewpoint, I'm now kicking myself for not jumping on the opportunity of a life time. Yesterday there was a link here to a Google ad for "Monument Foreclosures."

Cool, I thought. Perfect time to get a monument at a sub-basement bargain price. I'd love to park a large horsey guy, complete with rattling saber, on the sidewalk next to the mailbox.

I could use my $600; $500 for the monument; $100 for the fine craftsmanship needed to have his plaque replaced.

General D. Zaster has a certain ring to it.

Gary wrote on Tue, 2/5/2008 - 4:12 pm

For some reason, the conjure bag I envision has ears and a tail similar to that of a raccoon or a fisher cat (a ferocious beast).

Fisher (animal) - Wikipedia, the free encyclopedia

Nova wrote on Tue, 2/5/2008 - 4:16 pm

Conjure,

I see an old Black Delta blues man who also likes Miles. Shrunk down, his body order is a mix of sulfer, bourbon, and fetid sweat. His shoes are handmade. His suits electric blue. He can play the "harp." The waitress brings him a bottle of Tabasco with out asking. He fascinates young girls...

Chief Debt Officer (CDO) wrote on Tue, 2/5/2008 - 4:48 pm

I hope FDIC won't get gone...

Seriously, when you find a cockroach, you would expect there would be 31 more.

So-Cal would be the capital of bank-run within months...

energyecon wrote on Tue, 2/5/2008 - 5:50 pm

mp,

Time for Uncle Scrooge...

Barley wrote on Tue, 2/5/2008 - 8:51 pm

Okay..I for one am sick of the "subprime crisis". Lets re-name this occurance...Ideas??

SLP - stupid lending program
LLS - Lax lending standards
WSFGGW - Wall Street Fee Generator Gone Wrong
MPGU - Money Pigs Give Up
RAB - Rating Agency Bust
ZFP - Zombie Financing Program

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