Clearly the FDIC has its facts wrong here. I've been assured by perma-bulls that the only people taking out option-ARMS are ultra savvy, wealthy people, who are simply using them to optimize cash-flow.
Bwaaaahahahaha(gasp)ahahahahaha!!!
Unbelievable.
Everyone is scrambling to cover their @SSE$.
And Greenspan left just in time stage left.
We are so screwed. 70 percent of them are adding principal as their equity drops? THat's nuts!
Clearly the FDIC has its facts wrong here. I've been assured by perma-bulls that the only people taking out option-ARMS are ultra savvy, wealthy people, who are simply using them to optimize cash-flow.
Bwaaaahahahaha(gasp)ahahahahaha!!!
Unbelievable.
Everyone is scrambling to cover their @SSE$.
And Greenspan left just in time stage left.
We are so screwed. 70 percent of them are adding principal as their equity drops? THat's nuts!