Friday Links

Good Day. Remember that relief thing? Well there is a unintended consequence thing going on. The Bond market will take it from here, Thank you. Now you will see rates go to the roof. The FED or anybody else won't be able to help.

Bush's Subprime Mortgage Freeze Stymies Bond Market

http://www.bloomberg.com/apps/news?pid=20601087&sid=aHJV5Csj4eLM&refer=home

Oh man, read it. Some of this stuff is rich.

President George W. Bush's plan to freeze interest rates on some subprime mortgages may prove to be a cure that breeds another disease.

Here is the backbreaker!

Mortgage securities and leveraged loans have already caused $66 billion of losses at the world's banks. Goldman Sachs Group Inc. estimated last month that losses in credit markets worldwide may reach $726 billion.

That's 726 BILLION dollars! Now you think you be able to get a Mortgage 2008?? Good luck with that.

The What

Someday this war is gonna end...

Posted by: guest at December 7, 2007 9:56 AM

726 billion is a tiny fraction of the worldwide economy. Its roughly the eqivalent of 3 days of total global economic output and is probably grossly exagerrated.

Posted by: guest at December 7, 2007 10:08 AM

I just realized what "The What" stands for!

Totally
Hysterical
Egomaniac

Wasting
Hot air
Again
Today

Posted by: guest at December 7, 2007 1:34 PM