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To: koan who wrote (44186)	7/7/2007 2:38:17 PM
From: maxncompany	Respond to of 78421

Well, what Bear Stearns's hedge funds we're doin', everyone has been doing. And those were not sub-prime mortgages for the most part. The entire mortgage credit system and derivatives model is fraudulent and supported by conflicts of interest. The Bear Stearns bailout did not put out the fire by any means. It's only a glimpse of something pervasive. Investment banks, ratings agencies, insurance companies, hedge funds, pension funds........are all going to be hit hard. I would also note that a lot of the recklessly written mortgages will reset this fall and winter.