“Mortgage defaults are rising. Wall Street thinks banks should mop up the mess”

Businessweek article

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This one’s for you, powayseller. You predicted this. I have a feeling that you’ll get many chances to say “I told you so.” 🙂

I subscribe to Business Week and for a long time they were silent about the coming real estate downturn. They were for some time predicting a soft landing.

Now they’ve suddenly jumped on the bandwagon with a slew of articles on toxic mortgages and nutron loans.