Is the USA the new China? Jim Rogers thinks so and so do I! As the GSE's lever down, getting a mortgage will become extremely difficult.
This will only force home prices to drop furthur. Enjoy the current rally. As this crisis deepens you will be seeing less and less of them. I hope this bailout of the rich disgusts you as much as it disgusts me.
We the taxpayer are the ones that pay for this. Jim Rogers is right: Paulson basically threw this together and is bailing out(no pun intended) before the crap hits the fan and the crisis needs to be dealt with.
Just Pass the buck right Paulson? Wall St. has gotten very good at this as they continue to hide their losses.