Quote:
Originally Posted by Ferd
time will certainly tell....
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I think it has. That is the whole point of the post. Congress did pass BK reform laws. It is much more diffacult to file now than years past. Housing has turned down. Some areas of the country are down 45% by Case-schiller index. We have dipped about 15%-20% across the 150 MSA. The CEO of Wells Fargo predicts at least another 10% decline. The CEO of Chase Home Lending said, "I am afraid to say, but at least 15% more." He went on to say, "housing will get a lot worse before it gets better."
Point is that everyone is saying it now. But in 96, Wilkerson was a lone voice. I really hope that God has mercy and allows the economy to turn around after the election. But few realize how near we were to a full banking collasp when Bernake (Fed Chariman) made the midnight phone call to Diamon (JPM CEO) and arranged the Bear Sterns buyout.
So many things economically that are happening now---HAVE NEVER HAPPENDED BEFORE--this economy/possible recession cannot be compared to any previous!
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