Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.
Where’s The Bottom?
December 14, 2008
See also
A Second Mortgage Disaster On The Horizon?
http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Very little is written about what will happen when all the dollars, built up as foreign central bank and private holdings, get spent. Indeed, we believe that not only will the dollars get spent, but this spending will have massive inflationary implications for America." —Richard Benson
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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December 15th, 2008 at 8:17 am
Well, hoocodanode? I’m astonished that the coming implosion of option ARMs is news to anybody who has been paying a modicum of attention over the last 2 years.
December 15th, 2008 at 8:30 am
Any idea how much of this same problem in Western Europe?
December 16th, 2008 at 2:55 pm
i watched this episode last night on TiVo. the comments of the acupuncturist made me so mad i almost threw the remote through the big screen.
today, just in case i missed something due to my fit of rage, i listened to the podcast at work; i am now on life tilt b/c of the acupuncturist.
how anyone who witnesses this financial meltdown can not be a misanthrope is beyond me. i am a self-professed misanthrope and it just makes me hate humanity even more….