All Forum Posts by: Lee Common

which will buy bad loans from banks.

"The idea here is that the aggregator bank would buy the assets at fair value. Some are concerned that you'd have to mark the assets down to purchase them, but I think it could help provide some rational pricing, actually, for the market in some of these assets, because we don't have really any rational pricing right now for some of these asset categories."

"The idea would be to set up a facility, it could be structured as a bank, to capitalize it with some portion of the TARP funds. Financial institutions that wanted to sell assets into the bank could also perhaps take part of their payment as an equity interest in the aggregator bank to provide an additional cushion. If you sold $1 of assets into the bank, you would get 80 cents in cash and you would get 20 cents in an equity interest in the bank. So that would be an additional cushion against loss.

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tried registering the domain www.aggregatorbank.com last night, but no luck as somebody has already done this. The price? $100,000.

"But if the 'bad bank' idea could work, why not create a super baaaddd bank? We could use it to get rid of all our mistakes. Writers could unload their bad novels. Businessmen could sweep their errors under its broad carpet. What the heck, let people get out of bad marriages without penalty; the super baaaddd bank could pay the alimony and divorce costs.
"The hitch with the bad bank idea is so obvious even a banker could spot it. If the cost of mistakes is reduced, people might make more of them. Like the rest of us, bankers are neither good nor bad, but subject to influence. Unlike metallurgy or particle physics, banking does not have a rising learning curve. It's not science. Instead, it's more like love and gambling ... with a circular learning pattern. They learn ... and then they forget. They get carried away in the boom upswing; then they get whacked when it turns down.
"So let them have a good beating. It will give them of a lesson that will last a lifetime ... and give the next generation a solid banking sector."

Your can't believe how we throw the word trillion around so easily analyst,

John Mauldin
[email protected]

Nice Mark!

What had happened was!!!

Presidential advisor HHMMMM?

We are in a world of S**T!

Hey TIm,

Who runs Barter Town?

Shana,

That is a very insightful statement.

If you want something done right do it yourself!

Welcome to Bigger Pockets!

Best,

Call the bank and ask for the secondary marketing depatment or Whole loan trading desk.

Good Luck!

Ofgift,

Yea thats the type of business practices that should have them being penalized not the consumer!

Nextel did a similar thing a few years back. (before sprint bought them)

I had one of there night and weekend plans it started at 7:00 pm. then one month I recieved a rediculously large bill like $900.00 I called them like what the (actually I was very polite). Till they told me we changed the night and weekend plan to 9:00pm oh really thats not what I signed up for! There basic response was its in the fine print sue us if you don't like it. I had an attorney have the contract cancelled. Needless to say I would like to think I had something to do with a # of my friends switching carriers and have yet to say something good about that company to anyone I talk too!

Makes me want to find the guy who made the call do do this type of shady S**T and get creative on f-ing with him but what would that prove?

What CC co. was it so I can be sure to avoid them like the plague. I'll be sure to tell my associates about this as well!

Best,

I recomend we begin building a relationship and get to know who we are and what we bring to the table.

Why is the Realtor not pursuing the short sale herself?

Why not encourage her to pursue it with the bank and then if it works purchase the home?

Save yourself the time.

Or just wait till the listing expires!

Jason,

I've heard of people selling corporations with credit lines attached that works.

The only time I heard of what you are talking about was from a guy running the scam. He was trying to get me to participate down in Florida. I told him I'll pass on the prison time.

Tim,

Best damn song of all time!

Reminds me of bomb fires 15 feet high Kegs of beer and trucks stuck in the mud in the middle of nowhere with friends that you can never forget.