Its my opinion that banks such as Wells, and Wamu etc will have to announce write downs on their Alt A loans. Alt A just means its a decent loan but there's one factor keeping it from being A paper...maybe the real estate is on a lot of acreage or its a 2nd home etc. Anyways the vast majority of these loans (especially the home equity seconds and helocs) are secured by the full 100% of the homes value. Real estate values have fallen by what 30%? What, then, are these loans secured by?? Sure they aren't in default, but theres a whoollllllllllle lot more of these loans than there is subprime and they cant possibly we worth now what they were 2 years ago can they? Unless you believe Dennis on CNBC and think write-ups are imminent.