I will state what I re-state over and over, be very careful what you wish for. This reckoning that many hope for may happen, but if it does, most people including many in here, will be out of work, and in very bad shape financially. I think it is naive to think that you can have a regular job, have financial armageddon take place, and be completely unaffected. Everything is connected nowadays.

I do not disagree with most of the points being discussed here, but we cannot have this washout you want. We are where we are, and the powers that be need to find an easier way out than tough love. It is human nature unfortunately, to be a sheister, many people are always looking to take advantage of others. Most people with these bad loans were duped, some were not. Unfortunately, we may need to let a few people who deserve to eat it off the hook, to save the greater majority.

A fed easing is almost mandatory at this point, so get ready. What the Fed did today spoke very highly about how they are really looking at things right now. They saved the market today, this is the PPT in prime time for everyone to see. They will do more in the coming weeks.