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  1. is it the truth that Citibank has just reduced their mortgage portfolio by 20%? is it the truth that the mortgage market is experiencing one or 2 major difficulties? am i crazy for thinking that is all bullshit? i think the sad, detached from reality crew are you fools who think your real estate investment is untouchable by the forces of gross economic mismanagement. pull your heads out of your asses and look around. the financial houses are collapsing. the investment banks are at multi-year lows. wake up and smell your coffee.

  2. Looks like the conspiracy Moonbats have been hitting the kool-aid pretty hard.

    Sadly throughout history, the true believers in their grotesque perception of the “truth” always are looking for the congratulatory pat on the head from Comrade Commissar (or similar figure) before receiving their complimentary bullet hole to the noggin.

    I honestly wonder how many of the anti-market ranters on the internet are trust fund kiddies with no concept for finance.

  3. Bankruptcy filings rose 18% in February. One of the big mortgage lenders, Thornburg, of Santa Fe, New Mexico, defaulted on a $320 million loan. Investors sold the stock. Just a week ago, it was a $12 stock. Now it’s a $3 stock.

    Everything is getting ‘marked to meltdown,’ says the Wall Street Journal . Lenders approach a new loan as they might come upon the rim of an active volcano…worried that it might blow up in their faces at any minute. Yields on auction rate financing for municipalities and hospitals have almost doubled. And when the auctions fail, they can really explode. That’s why the Port Authority found itself paying a 20% rate on money it needed.

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