The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (146920)	9/16/2008 11:33:47 AM
From: Think4Yourself	Read Replies (1) of 306849

The AIG failure is going to cause almost every bank to take writedowns and reserve capital against losses. We don't know exactly how much yet but it's already known that it's going to be substantial. The fact that no public entity will even loan money to AIG suggests it is very substantial. The bottom line for the economy is that the banks are going to have little or no lending ability for quite awhile. Credit is going to get extremely hard to come by, and this country is more addicted to credit than a drug addict to Crack. Things are going to get very ugly for the economy.

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