I like the parallel between the housing market and Iraq. It appears that the adiminstration is chasing down the market, so to say. The President “bought” Iraq in 2003 watched it chug along, everthing appeared to be going well (even declaring victory), but now his ARM is resetting and he refuses to believe that the value will ever go down. However, current appraisals of Iraq are showing a rapidly declining market price.
Unfortunatley, this is one foreclosure that will hurt more than all the rest.
