Fam62c

Wells Fargo in the Lead for Wachovia; Is Bailout Really Necessary?

I think that we're about to see another bull market and it will be in, of all things, distressed mortgages. It sounds like some banks and private equity firms are getting ready to try to buy some of this stuff with all the money that's been sitting on the sidelines. My fear is that the private buyers will get in right before the final vote on this bill and buy the best of these "mystery bonds" at the lowest prices and by the time the government starts buying the market for these "investments" will already be in motion and Uncle Sam will will overpay for the runts of the litter.