The DOW dropped 360 pts today -- The Housing Crisis is far from over LINK

[Blackhatjack]

http://biz.yahoo.com/ap/071019/wall_street.html?.v=30

"Investor sentiment took another hit when Standard & Poor's downgraded another batch of residential mortgage-backed securities, adding to investor unease about credit quality. The latest reduction follows a similar move earlier in the week and affects more than 1,400 classes."


The Bush Administration is protecting the high-rollers and creating 'buying opportunities' at the expense of over 2 million families likely to lose their homes with government action.

The real pain may have just begun ......

[Liberal_in_LA]

1. agreed... the housing crisis hasn't peaked yet.

[HCE SuiGeneris]

2. GMAC RESCAP

Laying off 25 % of its workforce... announced Tuesday

[nadinbrzezinski]

3. When it peaks....

I don't think many people realize yet how bad this can get

[rooboy]

4. First half of 2008 is when it will really hit...

and the banks are busy setting up a fund to try and bail themselves out of it. There's over $500 billion worth of subprime mortgages due to be reset in the new year. Look out...

[rasputin1952]

5. Just wait another couple of weeks when oil gets very close to...

or over $100 a barrel.