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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (8319)	10/23/2002 7:38:59 PM
From: westpacific	Respond to of 89467

With 16% the average equity now in an American home - THE COMING TALE in the next year of three will be the failure of many a bank under the weight of foreclosed homes!!!! FNM and all these loans sharks - via the FED allowing folks with not a nickel to buy 300 to 600K bloated homes. Why should they care when they walk, they have no assets anyway and the house was a great way for them to get free cash via refinance and spend away. THIS IS THE NEXT CHAPTER IN THE ONGOING BEAR. Forget bloated PEs or no dividends!!!!!!! And we could talk about China and its .40cents an hour labor!!!! But that is another story.