"The bad news? While the government has pacified the commercial finance, savings, and plain-vanilla banking sectors, it's sending reinforcements into the vast, restive region where the trouble began: housing."
Isn't that just too depressing?
What's worse is that the FHA, the only lending organization in the country to retain some shred of sanity over the past few years, is now buying subprime loans. "In the second quarter, about 14.4 percent of the FHA's loans were at least one month past due."
There may be another shoe waiting to drop in the housing/financial crisis. Can anyone say "Double-dip recession?"
Glenn A Knight
In my study
Monday, October 5, 2009
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