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A little too creative financing?
Old 03-20-2006, 03:34 PM   #1
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A little too creative financing?

Its stories like these that make me really suspect that if the housing bubble "pops", its going to get more than a little nasty...kind of like the S&L debacle of a decade or two ago...but probably 10 to 20 times worse....

I'd probably need to re-read the article several times to figure out what kind of shell game is being played, but it can't be good...and this is one guy; theres probably 10,000 outfits like him churning all kids of marginal mortgage schemes..why do I suspect that once again the taxpayer is going to end up on the hook for a multi-Trillion dollar or more problem?
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