Economy continues to head toward the toilet
ecthompsonmd
January 17, 2008
Although neocons will try to tell us that the fundamentals are solid. NOT! Anytime we have huge banks investing in hundreds of thousands of questionable loans, how is that sound? Then instead of looking into the investment, other investment groups that are either too lazy or too greedy to actually study what they are getting, will buy chunks of these sub-prime mortgages. So, Merrill Lynch, Countrywide and Citigroup are just a couple of well known institutions which are now taking a bath. Let’s look at other data. Americans aren’t saving. How can they? Nothing is built to last except Craftsmen tools.
