Way to go, W!
On Oct 9, 2008, at 8:42 AM, justifiedright wrote:
> --- 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.
>
>
>
[Non-text portions of this message have been removed]
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