The talking heads on cnbc are funny. Funny in the sense they have to say something, but are confused, because no one has seen anything like this before.
Sub-prime, it's everywhere and it's acting like a case of aggressive cancer. It is eating the financial system from the inside out.
Cutting interest rates is like pushing on a string, there are calls from so-called "free market" types, crying for a government bail-out of the entire situation. Best guess, is that's a couple trillion dollar proposition.
The FBI is investigation numerous institutions for fraud, let's not even discuss AMBAC or MBIA, which are insurance entities for municipal and corportate debt. They are required to be rated AAA, but as of right now, they are, but in name only. Can anyone say "shell game".
Ugly, ugly, ugly. Keep your powder dry, the investment opportunity of a life time is somewhere down the road. O.k., let's talk about AMBAC and MBIA, see the link below
http://articles.moneycentral.msn.com/Investing/SuperModels/TheBigThreatOfMuniDebt.aspx
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