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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (37784)8/5/2005 12:22:16 PM
From: Perspective  Read Replies (1) of 110194
 
A valid point - the appraisals are a joke these days. But even *with* those appraisals, some patsy is putting up the first 20% so that NEW et al can lend the safer 80%.

Determining the location of that toxic 20% is of the utmost importance in predicting the epicenter of the coming financial storm. Those fools are going to be handed their heads on short order, and anybody nearby will be grievously wounded.

BC
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