Billion Dollar Subprime Defaults

When reading stories in the media, it helps to take things with a grain of salt. After all, we live in a state of fear given the hysterical ravings one tends to see. If it isn’t global warming, it is something else. Well, it is time to get hysterical about the mortgage market! The subprime fiasco is turning into an all timer from many perspectives. The federal government has put over 12 billion into Countrywide, the biggest subprime lender. The company still faces bankruptcy. Ah, the house of cards comes crashing down. If you have money set aside, get ready to do some investing. There are going to be some very cheap houses available out there.