Research123

U.S. Banks Still Need To Come Clean on Subprime

Wow, another breathless article about the comming collapse of civilization due to subprimes, by someone who is numerically challenged to say the least. "...Nationwide there are still $1,300,000,000,000 in sub-prime loans outstanding with $235Bn of that debt in ARMs THAT CAN RESET AS HIGH AS 12%, which could lead to millions of loan foreclosures...." Millions of forclosures?? Give me a break - $235 billion in mortgaes probably amounts to no more than 2 million individual loans. So every single loan will go bad?? I don't think so.