'conditions in subprime market have eroded significantly.' eroded significanly. thats a fucking understatement. bear stearns just valued the fund at 0.
He tells it like it is, I am surprised the news channels gave him so much air time. bloomberg has the girl on from Bank of Tokyo Mitsubishi, who is telling it straight, she would like to see someone address the US Dollar, she is spot on. The fed caters to large corporations and wallstreet banks, now watch Bernake just read from a prepared statement. government and the greedy central bankers could care less about the average person, all they want to do is keep them in dept.
So over time the housing market that is in a downtrend will not be in a downtrend? Wow, this is a revelation in thinking!
But thats down from 9.70 beans, 4.30 corn, well wheat is still way up. High oil has not caused a recession, thats what the fed puss said not long ago.
Indeed...Frank tends to "keep it real"...lol. Love how things went right down when he spoke. Not a favorite I bet amongst some people