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Residential Real Estate: How Much More Pain?

I am understanding more now that Banks are relying on the Bond insurers to support the falling/ increasing bank debt on real estate loans

We are looking at drastic shift in financial policy that is heading towards the Insurance companies (highly liquid) to bail out this whole mess. PMI and ABK are looking really good at this time as I see it.

What we have here is a failure to communicate!!!!! The Banks have not revealed their real losses on real estate loans but this is old news lets talk about the losses in banks gambling to shore up their losses I think they call it derivitives.

Real Estate Investors are looking at Cost of Build as a measuring stick to the value of a home relative to materials cost etc. Value in the land is not measurable, but neither is debt and the accountability of the borrowers to pay back the debt. In Poker we call this "You Got Nothing!!!. Banks are in trouble as they race to figure out a way to hold the barrowers accountable for losses and fruadulent loan documentation trumped up by the Mortga Brokers. No one wants to talk about it, IT being the consumer that says they were cheated when they caused the problem in the first place by misstating income and assets etc. to the Lenders. Oh I know the Lenders should have figured this out long ago. A Mortgage Broker I know said he couldn't believe the Lenders let these Loans go out for as long as they did, this was 3 years prior to the Real Estate Bust.... Yes 2004!!!!

I hope someone understands what I wrote????