alt.politics.usa.republican

"B1ackwater" wrote in message
news: @ ...
in the mortgage and housing sectors have cut more than
>>80,000 jobs this year. See running tally of housing-sector layoffs.
>
>
> Actually ... there may be a certain poetic justice in seeing
> the people who issued all those trashy loans to people who
> couldn't pay now in a position where THEY will have to try
> and float a 2nd or 3rd mortgage just to get 'em by until
> they can score a job at McDonalds or Wal-Mart :-)
>
> Of course the bank OWNERS, the ones who APPROVED the
> questionable practice, THEY won't suffer much. Indeed
> the Fed will probably bail them out using money it
> borrowed from China in your and my name ..........

The Banks don't keep sub-prime loans - they sell them on the open market.
A lot of big cash-rich companies bought them up.
Nintendo, for example, is rumoured to have a lot of exposure to them -
judging from their share price lately there could be some truth to it.
Consumer confidence is the key indicator these days. Just think - it used to
be production figures and now it's a bizarre abstract concept that is so
important. When the good ol' US public lose their bottle and stop borrowing
to consume, consume, consume - then the shit will really hit the fan.
I'll give it to about next febuary.
We'll see.
Like Bush said after 9/11 - it's the DUTY of the American public to consume.