ex-texan and I posted here about 18 months ago that this bubble was going to burst and BIG! We take no happiness in this. He and I have been in banking and finance all our lives. We know how banking and mortgages work.
That is not an exclusive club...
Quite a few that post on these financial oriented threads fit that bill. (That was a hint, BTW.)
My original point still stands. The more people that are flinging around the "!!!!!!!" to whatever daily news comes out as this _______ unfolds, the worse the ______ will be.
I am only too willing to acknowledge that the party is over, much in way that it was over in May 2000. Guess what? We're still here, some of us are in better shape than we were 7-8 years ago, and not every home buyer, investor, hedge fund, or mortgage bank doing their things in the past 10 years were complete idiots.