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Quite a shocker.

By the way, if you want to know more about Alt-A loans, try this link: http://www.lendermark.com/alt_-a_loans.htm

As a member of a nonprofit company trying to help people in Michigan with their existing loan problems, this is scary, scary news -- but if it's true, I'm very glad that we heard about it now rather than later. Thanks for an informative post!


Congrats on helping those with loan problems. It seems that your services will be greatly desired for many years to come. Thanks to the loose monetary policies of the Federal Reserve, this country is most likely to experience foreclosure rates not seen since the great depression (also caused by the Federal Reserve).

It makes one wish that Ron Paul had been chosen the Republican presidential candidate. We could have used his economic expertise in the next few years. He tried to warn us but the clarion call of easy money was too tempting to resist.

If you feel motivated, maybe you could write a paper here telling us about your work and some of the issues facing those whom you help.


I second Eric's invitation for you to write something for us. The think tank (http://redstateeclectic.us.com) is always open to others outside of our blogging circle. Just register over there, and you'll be able to submit articles in pretty short order.


One of the clearest, best presentations I have seen in my LIFE, and I have seen many, every week.

A lucid warning of a scary future.

For other reasons I reckon on a repeat of 1928-29 in 2011-2012. This would fit in perfectly with the last two years of the ALT-A resets.

Thank you very much. This was not just excellent. It was superb.

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