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3. I don't think you understand that this is no longer a problem of "bad mortgage lending."



Willie, have you followed Goodyear for the last week? Their cash was caught up in the Reserve Primary Fund fiasco, there was no capital market to turn to, and they're hanging on with a bank credit line which might or might not be big enough but definitely won't get any larger... Goodyear says the cash is for "seasonal needs", i.e. to pay ordinary costs and stay in business.

I suspect Goodyear is an excellent example of what will happen to almost everyone if the credit markets aren't unfrozen quickly. Hopefully something happens before Goodyear and friends start shutting down with massive layoffs.
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"If they can't picture me with a knife, forcing them to strip in an alley, I don't want any part of it. It's humiliating." - windsock