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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (358813)	11/16/2007 9:00:50 AM
From: Road Walker	Read Replies (1) of 1575645

I am not sure I have conveyed the utter stupidity of this mess.....but think FEMA after Hurricane Katrina. That stupid! I got it... agree. And don't even get me started on lending to people with 450 credit scores, requiring no money down and providing ARM loans whose future payments they could not possibly meet. Not at all the same but it reminds me of people buying Internet stocks on margin in March 2000. Consequently, its not the housing bust that has me worried......I still don't think its as horrible as the media is making out. They feed on each other. With more foreclosures the value of the existing homes goes down. Pretty soon qualified owners have a home that is worth less than the mortgage and looking for a way out. I told you that my house is worth $70K less than at the peak. What if I had bought then... I would be sick. If thing continue down people will start to panic... then you will be at the end.

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