Posted by 101livescan on 8/20/08 9:08am
Msg #260772

Deep Recession, According to Meredith Whitney

Meredith Whitney is an astute woman bank analyst who made this public and has had national news coverage on CNN for doing it. She publicly discussed the entire scheme. These guys cannot hide, there will be more federal prosecutions of WS heavies and bank officers.

http://money.cnn.com/2008/08/04/news/newsmakers/whitney_oppenheimer.fortune/?postversion=2008080408

She's had death threats made against her for her analysis of Wall Street's misdeeds.
Interesting article. Girl is smart and has a lot of guts to go up against these WS heavies.
On the front page of this month's Forbes magazine and she was interviewed on CNN re. her forecasts and synopsis of what we're experiencing and the oncoming RECESSION. Alt A paper will follow Option Arm loan foreclosures.

Reply by Treasure Valley Notary - Tina on 8/20/08 10:41am
Msg #260806

I Refuse To Participate In A Recession

We all know that the lending institution is in a major crunch. But I ask each of you . . .

Are you going to participate in the recession (or what ever it is) or do something else???

My family is personally refusing to participate. I still do loan signings (IF the pay is where it should be and not $85 for a reverse inc. edocs), but have found other avenues to follow. My income is still where it should be, but now I am "driving" a different vehicle. Times will turn around. There is, and will be, a cycle in this industry. Those that can hang on will be ahead of the game on the next go around. But stop waiting for the cycle to change. Find other avenues.

Since you have more time on your hands, look for other things. They are out there. Be creative. You too can refuse to participate in "the recession."

Reply by BrendaTx on 8/20/08 10:43am
Msg #260807

I'm with you Tina - I have been refusing to participate

in a recession. I always admire your posts! Thank you!

Reply by 101livescan on 8/20/08 10:50am
Msg #260809

Re: I Refuse To Participate In A Recession

I agree with you 100%, these are what the "financial gurus" are saying. I'm moving full steam ahead. I've cut back in a lot of areas, shopping, saving auto trips~just bought a cool Schwinn to move around town in, cutting, cutting, cutting. Longer times between hair cuts, manicures/pedicures. It adds up! I find work wherever I happen to be! TU GOD!

There are things happening out there way beyond our reach or comprehension, banks are about to fold, domino effect after Downey Savings, we'll all be amazed at the big guys who will crash in the coming months.

I think playing professional golf for the PGA is a good place to be right now, rather than being in our industry! I find there is always opportunity no matter what the economic climate

Reply by Les_CO on 8/20/08 11:12am
Msg #260817

Re: I Refuse To Participate In A Recession

The GOOD thing about being a "Financial Guru" is that you don't have to know crap. You just need to convience (some) people that you do.

The bad thing about being a Notary Signing Agent, (aside from the low pay) is that you need to know much more than I can type here....or than most realize...and you must PROVE it every day!