[Rhodes22-list] Dow Jones.....I hate to say it.....

[DCLewis1 at aol.com]

As per Wally, I think we’re looking at a potential near term financial  
disaster with the emerging mortgage debacle.  I don’t want to alarm anyone,  there 
are always potential disasters laying about, but this one appears pretty  real 
- you might want to be aware and watch it evolve.  Regardless of any  
government bail out, the mortgage debacle has the potential to adversely touch  your 
life in a lot of nasty and unexpected ways.  It looks to me like the  issue isn
’t “don’t bail out the home owners” the issue is immediate and  effective 
damage control at every possible level.  Any reasonable thing  that can help 
keep those mortgagees current is a good thing.  It’s a   nice thing  for the 
homeowners, it’s critical to at least some parts  of the US and European 
financial systems.  As I understand it, the  European Central Bank and The Federal 
Reserve Board quickly moved  today  to make more than 120 Billion dollars 
available to provide liquidity  to their financial institutions in response to a 
seize up in the credit  markets - this suggests a very serious and time urgent 
problem. And really,  the mortgage debacle has only started to unwind.  Wally's 
got it right -  there is a major problem looming.
 
We live in interesting times.
 
Dave.




************************************** Get a sneak peek of the all-new AOL at 
http://discover.aol.com/memed/aolcom30tour