From Mr Mortgage http://www.youtube.com/watch?v=WzUjccc9eHQ $1.6 trillion questionable value in loans. Defaults rising in these: ALT A - risk growing Prime - risk growing Sub Prime crash is over. Defaults falling off. Smartest money is hurting bad, as they hold FNM-FRE mortgage backed investments which are loosing value. These guys want government funding to limit there losses ! (Just like the $300bn housing bailout in the senate now!) The USA Taxpayer will save the rich boys, just like Bear Sterns shareholders who got paid $10 a share instead of $2. The housing market has lost 16% due to price bubble, it will loose another 10% if employment dives. And who says employment wont crash, the ripple in the pond is spreading wide ! SHORT USD, LONG GOLD, SHORT STOCKS, LONG OIL.