Sub prime Borrowers? I don't think so. More like sub prime lenders is where the problem started. In their greed to create loans they failed to recognize that most homes had become so overvalued that even good borrowers would not pay them back. Over valued partly because they continued to lend freely and partly because the appraisers based their values on the next higher price rather then actual cost to build or historical price appreciation. Local and County assessors were all too happy with the billions of extra annual revenue. The Feds were happy because less money was passed down from the top as the local government had a revenue base that was doubling almost yearly.

On top of that we have a mindless group of government officials that lack the mental acuity to fight their way out of a paper bag. 95 year old senators that can't stay awake even in a press conference. Selling their positions to special interest and focused on pork.

We have a president who in his own right is a blithering Idiot who probably skips down the hallway towards his bedroom at night singing this ditto (a Billion a Trillion what's another Zillion) With his buckets of zeros and decimals he freely spends on the wars and with out any accounting on where and how that money is spent and as it passes through Texas most of it is siphoned off.

Some Senator is trying to pass a bill for 9 billion to help forestall the housing crisis. What is 9 billion going to do against the Trillions of losses that home owners are facing? With the flip of a pen we sign bills for 150 billion a whack to rebuild Iraq as we continue to bomb it and tear it down.

I think the meat packing plants have been pushing downer cows into the slaughter houses for years and the Koreans have it right. alzstimers is the same as mad cow. That Mexican we saw trying to poke the eyes out of that downer cow as he pushed it with his bulldozer into the slaughter house was more likely from Iraq. That downer cow was down for a reason. Cows don't walk on their knees and drag their hind legs just to be closer to the grass. It had some serious nerve damage. Did anyone have the mental acuity to test that animal to find out what was wrong with it? HUH! What's that you say?
Right-on! Angry COW!

Finally the food and drug administration is being recognized for what it is. A failure just like the SEC. Always after the fact weather it is the counterfeit drugs, bad drugs or bad food. They seldom catch anything unless the sick and dying bring it to their door step and rub their noses in it. It's a lot like house training a puppy. Just like Standard and Poor and Moody's they prostitute their positions to corporate America.

So wake up America. Pull your head out of the sand box Strap on some sac and vote responsible. Pay attention and bitchit a bit when you see something wrong. Let's outsource Congress and the White House. Bring in some hardliners to clean up the system. We don't need anymore cowboys and Hollywood pretty boys. Lets kick the banks in the arse for being stupid and let those fail that need to. A hard lesson learned is the lesson that sticks. Arthur Anderson learned their lesson well. You can't just arbitrarily move decimals to the left just because it looks better that way.

You all have a wonderful day

JPM