Words of wisdom form Anonymous Poster on Hounsing Panic:
"Good God, Americans are so in debt that they can not afford for the nation to get back to normal interest rates, which is around 8%. The interest rates were lowered to the Eisenhowner era for debtors to go on a borrowing party to forget 911 and stimulate the economy. (Seems we may be following the path of Japan, 17 years of real estate declines in a nation where there is no more land.) The present American economy is not stable and looks more like a crack addict having withdraw symptoms, from easily borrowed money. "
Exactly. Do you see the runs on money at Countrywide Financial today? Where is Mozillo? Will he slither into hiding?