9.5 trillion in federal government debt.
That number was 3.5 4-5 years ago.
3 trillion in sub-prime doo-do.
What do you honestly think has and is going to happen?
Hmmmmmmmm anyone seen our fiscally conservative president?
Oh wait there he is handing out $800 bills. I'm getting my Weimar Wheelbarrow ready.
If .gov steps in to bail out the MBS bond insurers, they will destroy their AAA credit rating and long rates will go to 20+%.
They just won't risk it.