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  1. 12-15-2007, 08:40 PM #1
    AirborneSapper7
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    Martin Weiss: Credit Crunch Could Get Far Worse

    Martin Weiss: Credit Crunch Could Get Far Worse
    Wednesday, Dec. 12, 2007 1:02 p.m. EST

    Years of American profligacy – spending and borrowing in historic amounts – has caught up with the U.S. economy, according a new report.
    The result has been tightening credit for both subprime and for normal mortgage loans, a phenomenon which is quickly spreading to other forms of consumer credit, like auto loans, writes Martin Weiss, chairman of The Weiss Group, which also publishes the Safe Money Report.

    Auto loan delinquencies have surged, Weiss notes, and even "goodâ€
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  2. 12-15-2007, 08:49 PM #2
    magyart
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    IMO, it will get worse, before it gets better. The 1st qtr of nxt year will be bad for ajustable home loans being incresed. Financiall companies don't KNOW how big of a problem the truely have. A few companies will need to go under, before this gets turned around.

    When it's over, foregin firms will own a big portion of our financial firms.
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