It seems the world just might need a George Bailey on Friday...

[WCGreen]

It seems like old man Potter has been making some really bad loans over the past few years ever since the Dot.com bubble poofed away billions of dollars just like that...

The curious thing about this is the banks and Ditechs and Quicken Loans, you know the free marketeers, those guys and gals that keep telling us to get your stinkin' government off my money and out of my business, are going to be knock knock knocking on the Feds door for a bail out real soon...

Makes you wonder how these people continue to repeat the same mistakes year after year...

What's really got me worried is that Germany and France have been sucked into the sub-prime mortgage market...

It's going to be a bumpy ride come 9:30 friday morning...

Let's hope it's not another Black Friday...

[CaliforniaPeggy]

1. It's scary...

I love how all those free marketeers are such hypocrites when it comes to their welfare...

But they'll screw us when it suits them to do so...

Sometime tell me about the deal with Germany and France...

I'm hoping it won't be a Black Friday either........ :scared:

We'll see...

[jmp]

2. "Makes you wonder how these people continue to repeat the same mistakes ..."

It's the lure of easy money ... it's got a very strong appeal. ;)

[Double T]

3. No income verification, No credit check, ridiculously low monthly payments,.........

No down payments or borrowed down payments and INSANE ARMs. The members of Congress should all go to prison for allowing this to happen; don't tell me THEY didn't know what was happening in the mortgage industry. It would be great if it were ONLY going to be 'black friday'. Add on the TRILLION dollar 'war' off the books, taxcuts to the rich, skyrocketing trade deficits, humongous national debt and china threatening to dump $1.33 Trillion (usd) in Treasury Bonds and we're looking at a total financial and economic disaster of epic proportions. Everything bushco touches is doomed to failure.

[WCGreen]

4. What cracks me up is the Guy who bought the Cleveland CAv's

is the owner of Quicken Loans...

I wonder if his financial are a slam dunk or if he will be complaining about a technical foul...

[Adsos Letter]

5. From what I have been reading on the blogs...

...it is less likely to be a sudden crash, ala 1929, than a "slow bleed-out" as happened from 1930-1934.

Either way, the "party" is over...

CrewLeader has done some excellent posts on this in the "economics" group.

Courage. :hi:


Edit: ...spelling... :dunce:

[WCGreen]

6. I know....

They have done a good job over there choosing the correct data to examine...

There is so much Fucking around with stats now in DC that you really have to monitor them carefully to get the trus meaning of what is going on...