[Hydroshock]

Economy/Credit/Housing Issues Ping List

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[HD1200]

I would expect to see THE SKY IS FALLING articles posted at lefty sites, not here.

Surprise surprise.

[nmh]

Please add me to the ping list.

If people would ONLY realize that shouldn’t live beyond their means with mortgages and credit cards this wouldn’t be happening. There will ALWAYS be people out there, in this case mortgage companies and credit card companies looking to exploit you. Looks like greed isn’t paying off for either. The government needs to STAY OUT OF THIS. There is a lesson to be learned here.

[Travis McGee]

However, when it comes to working out the impact on banks, the task becomes even harder. For in recent years, banks have not simply been acquiring subprime loans, they have been repackaging them into complex "asset-backed securities" (ABS) that can be difficult to value.

Have you heard the new slang term for these "asset backed securities?"

Ass-paper.

I kid you not.