Well, it's less than China got hit..........and everybody did get hit. And, yes, uranium stocks.......many of those were down double digits.
But your main point about the speculation/risk........yep.
How do you like our federal agencies coming up with tighter, more realistic housing lending standards..............after the fact. They were nowhere to be found on housing's way up.
How could anyone think housing's worst is over. In a very simplistic take........just look at the qualifications and the terms of so many mortgages in recent years. There were no qualifications. You, the borrower, pretend to make a lot more money than you really do, and I, the mortgage broker, will pretend to believe you.....bingo, you qualify. Ah, but the terms, the terms. After those 2 year teaser rates. my, my, my, but things change. Many didn't know what they were getting into, but some didn't even want to know. But soon, they will know, and will rue the day they signed.
Interested to hear how you think all this bad mortgage paper will play out in the financial sector. Who will win? Who will lose? And how? |
