From: "Rod Speed" 
Newsgroups: misc.invest.stocks misc.consumers.frugal-living misc.invest.real-estate
Subject: Re: Where did the 400 billion USD in subprime mortgage losses go
Date: Thu, 22 Nov 2007 11:42:11 +1100
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Thurston Howell IV  wrote:

> Real Estate bubble burst...prices too high...loans too high to buy the
> properties. When defaults occurred, the properties asking price is
> much lower.....hence hugh eliminations of money out of the market.

> This is just starting.

Nope, its been going on for quite a while now and wont get a lot worse except
with the ARMs that are still to bite the stupids that have them on the bum.


> On Wed, 21 Nov 2007 11:21:33 +1100, "Rod Speed"
>  wrote:
>
>> It had nothing to do with rising interest rates, everything to do
>> with loans to fools that should never have got the loans in the
>> first place who were absolutely guaranteed to default on those loans.
>>
>> Nothing to do with the media either.