The Option ARM reset argument faded into the background, as the recession took the driving seat. Some say lower rates have lessened the effect of resets. However, there has been talk of a large new wave of foreclosures starting this month (April 2009). BTW the Glen Beck video was a classic. Did you see the CIA operative in the corner of the screen with a syringe just as the theory that Treasuries are now full of toxic loans was being hammered home? I felt a distinctive cool breeze blowing in from the East 🙂
