--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
> I am conservative (fiscally) but an optimist. I beleive things in the
> residential credit markets will settle down over the next 6-10 months.
Based on what - hope? Prices will continue to spiral down over the
next year and banks won't be able to borrow money to lend, just like
they can't right now.
But all of this is trivial compared to what could happen soon:
The Credit Default Swap market goes bad.
Outstanding in that market is $24 trillion.
That's TRILLION - with T.
America can't bail business out of that.
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