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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John McCarthy who wrote (76067)	3/13/2008 1:28:26 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 116555

In 28 days there will be even MORE foreclosures. The leverage will make the MBS and CDO securities even more worthless over time. The ONLY way I can see this getting under control is if the foreclosures stop, and that isn't likely to happen. February data out this morning showed only a slight drop in foreclosures since January. January saw a surge due to the new IRS tax rules going into effect. People held on waiting for the new rules. I don't care what the government or rating agencies say. They have shown themselves to be liars. I am pretty good at basic math and the math says that the financial system is screwed. Couldn't happen to a more deserving group of people and they did it to themselves.