http://www.zerohedge.com/article/mortgage-meltdown-mess-update
This is all going to end badly. All those mortgage-backed securities and related derivatives will be exposed as worthless, with no collateral backing them. Guess what that does to bank balance sheets? And the investors who invested in them? Can you say pension funds?
Financial Meltdown II is coming to a neighborhood near you.
Tuesday, October 5, 2010
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