He’s right it won’t be like the 90’s, it will be so much worse he will wish for the 90’s. The 90’s and today are different because there was no widespread use of toxic mortgages, the norm was 20% down and 33% income to housing expense ratio. That norm will be returning shortly and the effect of allowing a market to swing that far off course and then be brought back, well, we don’t know because it has never happened. I can bet it won’t soften the blow, how much harder is anyone’s guess. Had this market peaked in 2003 we would be in for a 1995, probably pulling out of it right now, too late for that now.