What Is Subprime Financial Crisis
October 25th, 2007
What Is Subprime Financial Crisis
Question: How many of you agree we are facing a huge financial crisis in the United States?
….now that some of these defaulting subprime loans have come back to bit big companies on the behind.
(and how many of you are equally worried, if not more so, about the ensuing credit market crash that is coming because of this).
I am…and I have been saying for 3 years this nonsense was coming….but few people have listened…..and I think it’s going to get worse….
Answer: It is nasty........with the under valued dollar our economy is not as good as our government lets on. Hell, the British Pound is worth twice as much as the dollar and with China under valuing it's own currency we are screwed. As you mentioned. Those subprime loans were a joke. If banks and realtors could not see that the housing bubble was about to burst than we are worse off than I thought..........and you are right. It is only going to get worse.
Lehman Brothers Bankrupt Financial crisis 2008 Stock Exchange Wall Street Subprime Crisis New York
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