Monday, March 19, 2007

Read Up On the Subprime Scandal

Its very bad news for the economy and the average American.

Get ready for the right-wing noise machine to blame it on too much regulation, when just the opposite is true.

7 comments:

jim adams said...

The boys in Finance will fix this.

9/11, Katrina, Iraq, and now subprime, no sweat. Just a slight recession at the end of 2007, then we will pull out.

We will be rich enough to buy that bridge we have always wanted in New York.

jim adams said...

Just happen to read Dr. Lachman's comments in Financial Times paper.
1)turmoil could cause 10% reduction in home sales for 2007.
2)defaults may result in 500,000 homes being returned, in next 6 months.
3)in the next 6 months, 500bn in adj.-rate mortgages due for 2007.

Remember an old saying (even if it is your front door and back door)when one door closes, another door opens.

Blotter said...

Jim Adams seems a bit demented.

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