A lovely bit of nostalgia. Last time I mentioned this, someone said the recession would takeover where the subprime left off, in pushing home prices down. You have to laugh at the Realtor who now empties foreclosed homes. That’s adapting to the times, and I expect he’s hoping he doesn’t bump into a former client. What concerns me is who is left holding the can (aside from the taxpayer)? Are there any banks in the US, and abroad who are particularly exposed to Alt-A’s and Option ARM’s? Are we going to see HSBC, BoA, Well Fargo fail?
