Heh.
Countrywide and CapitalOne will be the first "Major" banks to collapse over this Home Loan thing. They all (every bank) got too greedy, and gave loans to people who should have never gotten them. And I mean never. Example: I read an article a month or two ago about how some illegal aliens were able to buy a $600k home, and were now complaining because they didn't read the fine print (which was in english, and all they spoke was spanish) which put their adjustable mortgage to like $6k a month for payments, and they couldn't mow that many lawns. I mean, come on, if I, who will earn $100k this year, can't afford a $600k house, why should anyone think that these people could? And it happened over, and over, and over again.
Oh, and the kicker to this little story: They were suing the mortgage company over unfair loan practices, so thay they could keep their house. That's the big thing out here now, illegals buying these big homes, and then suing saying that they were abused and used, and should be able to keep them. So, when they win these lawsuits (because they will, the people they put on these jurys are stupid) the banks won't even be able to foreclose on these houses, and will have to eat the mortgages. It won't take too many of these to make these companies collapse.
Maybe its time to invest in gold, it will be the only thing worth anything after the economy collapses.
