[wardaddy]

there are FReepers here too applauding cleaning house and tightening credit

this housing boom, bubble bust is sure far reaching

beware of bundles

[Tublecane]

The applause in the posts is a bit more generalized than the freeper response to credit-tightening.

My question for these socialists is: why do you think we live in a capitalist society? Your side has been in the ascendant for the past century. This is your system failing!

[Dr. Thorne]

This disaster was caused by political avarice (Greenspan's need to make Clinton look good by creating low interest rate bubbles) and greed (the banking establishment re-packaging mortgages as investment vehicles). Both actions were stupid, shortsighted and bound to cause this kind of mess.

We have no choice now but to ride out this storm. Neither candidate or party can change the course of this toxic lava flow. My advice: Buy gold and pray.

[org.whodat]

there are FReepers here too applauding cleaning house and tightening credit

The house needs to be cleaned, there is no tightening of credit. Only acceptable standards of credit worthiness.

[wtc911]

A friend is a SVP at Moody’s and an expert in forensic accounting and analysis. He called the Asia crash in 97. He has been predicting these events for nearly two years. He says this will come to look like something very few of us are old enough to have experienced....and he doesn’t mean the Carter years.