There was a news item last night about an email that was circulated to CW employees yesterday. Apparently it named over 900 employes being canned, disciplined, on notice, etc.

Maybe that was it.

In any case, I do agree that those who rode the stock wave upwards and bought into it in their 401(k)s don’t really have much solid surface to stand on when trying to sue now. But it does go to show how blindly the entire RE industry believed that prices will keep going up forever.

I can understand betting your house, you can always start over if you lose it, but your retirement?!? How stupid do you have to be to bet something like that?

Lose your car, lose your house, lose your job, but don’t jepordise your retirement!