NJ5 on 12 July 2009
By the way it seems the next round of mortgage blowups is already starting, and it's not even related to subprime lending:
http://market-ticker.denninger.net/archives/1206-Banks-Here-Come-The-OptionARM-Blowups!.html
Apparently it's something that Karl (the blogger mentioned in the OP) and others have been warning about for many years.
My Mario Kart Wii friend code: 2707-1866-0957
