Tsafi

[popeyej]

"Bear Stearns leads the default hit parade with JP Morgan Chase, Merrill
Lynch and Citigroup in hot pursuit. Countrywide Financial, the largest
mortgage lender, has $110.1 million of foreclosed real estate at the end of
March, quadruple the $27.4 million it held just three months earlier" That
statement was from last July.

The house of cards is bucking a stiff wind. In addition to the real estate
defaults Bear Stearns is a huge gold hedger. Several months ago BS paid 3.2
billion dollars to rescue just one of it's hedge funds. Heads are about to roll except that I didn't think that it was
going to happen this fast.