Reply #4: Dam, you know as they say "It ain't over until its over" which certainly [View All]

applies to this crisis. Have you noticed when this first began, Wall Street one week was worried, the next week not worried and so on and so on. It appears now there have not been any "not worried" weeks for a while so the covering up and saying this is not going to have any influence on the economy is over.

It really is sort of scary since this entire sub-prime thing reaches into the banks in Europe and elsewhere. The global economy is great, huh.

Also, the lenders are unable to do any negotiating with the buyer to prevent them from being kicked out because almost before the ink is dry, the loan is sold off which is where Wall Street comes in and bundled up with bunches of other mortgage loans so there is not any way to work things out like they used to be able to. Then these bundled up loans become paper of the Wall Street brokers where they are bought as stocks or bonds or something which gets them into other countries.

What a freaking mess!