Wednesday, October 17, 2007
The Subprime Mess
(The United States of Subprime Loans) Here is an interesting article with lots of good facts on the subprime mortgage problems that currently plague the nation. I think we have all heard too much about this topic, but this article is the first I have read that claims the "rich" are suffering form this mess too. I like the hard numbers this article brings to the table. Give it a read if you are bored or are looking for more numbers about the subprime mess.
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The prime time mess hasn't even peaked yet. Wait till the bulk of the ARM resets trigger next year.
This is one of those rare cases where open-ended free enterprises has run amuck.
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