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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (146920)9/16/2008 11:33:47 AM
From: Think4YourselfRead Replies (1) | Respond to 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.



To: John Vosilla who wrote (146920)9/16/2008 1:09:36 PM
From: Pogeu MahoneRead Replies (1) | Respond to of 306849
 
A bunch of no name banks no one ever heard of, do not worry John, just another day at the beach.

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so now the suits on Wall Street are finally freaking out later in the game for most of us but the world now goes to a handbasket cause some banks go under and Manhattan RE is about to finally plunge?


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