by Tanta on 8/14/2007 01:58:00 PM
Tuesday, August 14, 2007
Forbes reports on "A Wicked Credit Crunch" (as opposed, I guess, to one of those benign ones):
Led by seismic subprime holdings, the roiling debt markets are casting a pall over the entire real estate sector. And so they should. Before central banks around the globe acted in unison to inject liquidity that lubricates the mortgage machine, published reports put the total number of unsold loans sitting in financial institutions' warehouses waiting to be resold at around $260 billion in the U.S. and another $200 billion in Europe.You do have to wonder, if "liquidity" is the lubricant, what's the fuel?
Please feel free to use the comments to this post to discuss DDAs versus mattresses filled with gold. You'll want cash-management advice from complete strangers who spell funny. Trust me.
Posted by Tanta on 8/14/2007 01:58:00 PM