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This Recession Will Be Neither Short Nor Shallow

What are the names and affiliations of the persons who write the scripts for the know-nothing readers like Mark Hanes and Erin Burnett?

Is the U.S. Banking System Safe?

Impressive article and comments. So what will happen to the American workers' who have their 401(k)s and traditional & Roth IRAs invested in mutual funds whose NAVs continue to erode? Unfortunately, too many of them lack the investment knowledge to properly monitor their investments other than to watch their monthly or quarterly statements report the bad news. Thus, they remain the lamb-like victims of their employers' and 401(k)/IRA managers' poor investment choices. By the time the workers reach the point of realizing they have lost the better part of their savings there will be little they can do to salvage their savings or their retirement. This is a sad, but all too probable, scenario that faces the masses.

Wall Street Breakfast: Must-Know News

Shalom User 168657!!!

Wall Street Breakfast: Must-Know News

I don't understand the problem. I bought two 3br, 2ba, 2ga, 1450 & 1550 SF condos for $121,600 & $132,600 respectively in a gated community within 2 miles of Caesar's Palace (Las Vegas) in 2003. Within 18 months I sold the $132,600 condo for $235,000 which had no mortgage. The $121,600 condo which I still have as a rental unit has a $97,000 HELOC ARM interest-only mortgage which originated at 4.25% tied to the prime rate. When the adjusted rate climbed to 8.5% due to FOMC action I called the lender bank and they immediately agreed to lower the rate to 7.5% starting the next day with no doc and no fees. My FICO is 857. Today, with the Bernanke FOMC rate reductions I am at 4.77%.
Am I living in another world?