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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (45278)	7/29/2001 12:54:34 PM
From: Canuck Dave	Read Replies (1) \| Respond to of 56535

From Prudent Bear. I think this about sums it up. There is now no doubt that mortgage finance is the heart and soul of the Great American Credit Bubble, as well as being the inevitable Achilles heel of a vulnerable U.S. Bubble economy. It is also true that real estate has increasingly become the dominant underlying collateral for the U.S. monetary system. This is a dangerous game, and I regret that I am again compelled to accuse chairman Greenspan of gross negligence for his role in this monetary fiasco. Who is minding the store? While it clearly serves his purpose today, the negative consequences of continued mortgage credit excess will be enormous down the road. CD