And this Tsunami is supposed to stop with a VOLUNTARY freeze in mortgage rates???????????

[Javaman]

U.S. Mortgage Delinquencies Rise to 20-Year High

http://www.bloomberg.com/apps/news?pid=20601103&sid=amtfI8XWNmO0&refer=us

UPDATE 2-U.S. mortgage foreclosures reach record high

http://www.reuters.com/article/bondsNews/idUSN0621155820071206?sp=true

[NightWatcher]

1. how close are we to an all out CRASH?

the fed has been pumping money directly into the stock market in order to keep things fliud- yea right. And now this. Are we dangerously close to the edge? The dollar is not worth the paper that it is printed on and things are costing us more while the rest of the world is doing just fine. Will we make it to 2009 before the fall?

[kineneb]

8. oooohhh, possibly in the early spring (or even earlier)

or at least that is the guess from one of the econ analysts. I think he is probably right.

The last big chunk of ARM resets happens next spring.

Bring umbrella. Major brown stuff about to fly.

[Warpy]

2. 20 years? Wouldn't that be the last time the GOP

had the White House?

When are people going to learn? The GOP are just plain bad for the economy. They always screw it up. They just can't help it.

[catmandu57]

3. Yes always

The trouble is people forget too damn easy, if we don't drive a stake through this monsters heart now they'll be back as soon as memory slips again.

[in_cog_ni_to]

5. They're bad for the economy and CORRUPT!

Iran/Contra, Watergate, Abramoff, Delay, Cunningham and the entire regime.

[Horse with no Name]

6. The problem is

that George Bush was battling the disastrous economic policies of Carter.
HIS policies didn't come to fruition until Clinton was in office.
It was directly the result of HIS Presidency that gave us the surplus during the Clinton years.
Now, poor Junior is having to struggle through the disastrous economic policies of Clinton.
It is so difficult for them, you know, hard hard work.
(do I really have to insert a sarcastic smiley here)

[in_cog_ni_to]

4. Dick Durbin just said that 2 MILLION people are in forclosure and possibly 3 MILLION are.

He is trying to change that HORRENDOUS Bankruptcy Bill. He doesn't like the psycho's pathetic idea.

[alfredo]

7. If a mortgage company did put a freeze on, they'd get sued by

their stockholders. This whole announcement was bullshit from the start. bush wanted the appearance of concern.