drieuxster (drieuxster) wrote,

The Alt-A's be coming

digby in Denial River refers to atrios's recast about the pending wave of alt-A forclosures...

The problem is that someone loaned money to people who do not understand how interest compounds.

For those who were doing their homework, some of them are enjoying the happy fun of having an ARM mortguage that adjusted DOWN, because that is where the market is going.

Your classic, we have good news and information - the good news is your ARM is going down. The Information is that this is occurring because of the growing problem with bad loans, not all of which have been sorted out as actual toxic waste, because, well Gosh Kiddies, these are not the Sub Prime Loans....

So as the glorious economic forgoing goes forward.... well... it will be next year some day....
Tags: economics

  • The men who stare at Goats

    Saw the film today. It was, as expected disturbing, and unsettling. But I think the adverts for the films before were even more unsettling. We walked…

  • Design gambits

    Hey kids, what if you had two competing cartridges? the S&W .44 and the .44 colt and you are competing to replace the old fashion, god fearing, all…

  • What should GlennBeckistania's response be to new bombing in Iraq?

    Hum.... GlennBeckIstanianista have been opposing the Commander In Chief. Now we have terrorist bombings in Baghdad also attacking the Commander In…

  • Post a new comment


    default userpic

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.