As well as the Wall st investment banks that the wage earner will be bailing out their is also this sinking tub along with his sister Fanny.
The share holders have quit pumping the bilge and are now just jumping. See chart attached.
Today's papers are finally reporting their is no end in sight for R-E fall. Though maybe 2009 may look better as one analysis remarked.
The rating companies are also feeling for the ribs of Citigroup from recent reports.
The ARMS are still coming to the trough to feed and will defiantly be hungry for some time.
What we are experiencing is a micro drama of what is happening with the world reserve currency, the dollar. They are trying to control the dollar until they can unload it on others. That means super inflation for us if we have only dollars.
And just giving us a spoonful at a time of the bad news results in the conclusion of the total transfer of wealth to the few from the many.
The housing bankruptcy is not limited to just supposed buyers; this is also affecting renters of property which is being foreclosed. Unfortunately, they are not being forewarned by either the mortgagee or the mortgage company.
It is very possible the first notice for the renting occupants of a foreclosed property would be that 72 hour evection notice that the sheriff tacks to the door.
Think not? I once saw an evection in progress where the old single women was led out of the house in complete bewilderment by a very nice sheriff and the locksmith was changing the lock.
We learned their was a out of town owner who never came by and the women never used the front door because of the steps. So she never saw the eviction notices. This was in the area where the 'nice' people live. Two Blocks below College ave on Ashby in the Berkeley/Oakland area.
I was working next door and we called the woman's daughter who rarely had come by to check on her.
What's the point?
It was all done and no one was maliches. So don't expect the system to be consionus or have a heart when they start the shredder up.
http://finance.google.com
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