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Originally Posted by Texpat Sorry to those who bought a house a few hundred sq feet smaller, or in a bit shabbier neighborhood -- to secure a reasonable mortgage -- you're not stupid enough to get any handouts. |
It must seem like a rough deal to those who were more careful. Having studied the fine print of the deal its clear that it aint much of a package. it wont stop the decline of the housing market and its unlikey to prevent a global recession in my opinion. I just read that some towns in Norway lost 48 million dollars as a rsult of sub prime related securities, workers in those towns could not be paid.
Its a fcuked up situation and it will take years to overcome.
For those wishing to profit from this situation I can recommend looking at Ultrashort ETF's, SKF and SRS. The stock markets will hobble to the next earnings season and then the carnage will unfold
