Lovejoy - 3:47 am on Oct 31, 2010 (gmt 0)

I think we're boned, unless some kind of financial reset takes place. I kind of figured it was all going to come back and bite them on the hind end when they changed the bankruptcy laws back in 2005. Bankruptcy was a safety value for average consumers, a little steam was let off at a time, but the banks got greedy.....now we all suffer.

Most of the banks are technically insolvent, it's only the fact they are carrying properties on their books at far above real values and dragging the foreclosure process out that's keeping the whole circus rolling. I know people who have not made a mortgage payment in 18 months who are still in their homes, something I've never seen happen in my 55 years..........