Replies to post #189 on Real Estate Lender Implosion

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I'm fixing the charts in the ibox. You know people are making a killing shorting these companies right out of existence (ie, they'll never have to cover!). look at the insurance charts at the bottom. This is worse than the dot com bust as real companies are being wiped out.

Even if 10% of all mortgages go bust they still make money! Someone with a $300,000 5% 30yr loan will pay $300,000 in interest! $400,000 on 6.5% - mortgages are the best money making racket in existence. (and the banks have the payments rigged so they are 90% interest, 10% principle - the homeowner still owes all the principle and keeps forking over interest (free money)

thanks for the link, I'll listen this evening as i have to run soon