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Completely agree. And you know what? It's not the homeowner who will be punished, it's Wall Street who takes on unreasonable amount of risk because they know that if things get too bad, they will be bailed out. One of the main reasons why subprime exists is because "The Street" were actually...

You can't make them loan brokers give back the commissions, they are, well, BROKE(ers). But how does bailing out the subprimers mean that there would have be an interest rate drop? Gross was suggesting a federal "organization" to purchase these subprime mortgages, and then offer favorable...

Exactly. And there is only two ways to fund this. Either raise taxes or print more money. Hey, since we can't cut any Government programs, let's just do both! Raise Taxes and Print Money. Yes! Then everything will be just okay for everyone!

Actually, PIMCO has no subprime exposure. Other asset managers have been buying these CDOs, and ABS for yield, but Gross has steared clear as he's foreseen this for years. His opinion is based partly on him being an American citizen, and also thinking that if real estate drops 10%, then we are...

He knows a bit more than you do, and you may have a different opinion, but you better respect him. Is it a proper thing to do? Probably not. But, does he make a case on precedent? Absolutely.

I believe so - states all generally adopt the same model rules to follow. This could change in the future, but for right now, no public American law firms. Overseas, however, is a different story.

There are no such thing as Law Firm stocks. The reason is that nonlawyers cannot own a law practice, thus, no publicly traded law firms.

I think Lennar and KB should survive. They have places in every state to hedge their building. Hovnanian looks to be dust, and unfortunately, so does CFC. In fact, CFC could be that major bank that does not survive this. Damn, I though it would be Bear Stearns.