Wednesday, January 09, 2008

Once again, Bad payers not greedy bankers are to blame!

AS the next great recession looms it's all due this time to those simple people who thought owning their own home was the start of a better life. Not so, they are the cause of the next recession according to those greedy bankers. Screw them and the energy company's as well because it's their sole greed that drives this recession as it has always been.
clipped from online.wsj.com

Stocks Twist Amid Economic Jitters


By Peter A. McKay


Word Count: 731
|  Companies Featured in This Article: Countrywide Financial, DuPont, Alcoa, E*Trade Financial, MBIA

An early stock rally strained to withstand the weight of a recession call by Goldman Sachs and rising mortgage delinquencies among Countrywide Financial customers.

The Dow Jones Industrial Average, which has slipped in and out of positive territory throughout Wednesday's session, was up 72.67 points in late-afternoon trading, or 0.6%, at 12661.74.

In 2008's early going, the market has repeatedly been hammered by rampant fears about the economy's ability to withstand the unwinding and disclosure of bad mortgage bets on Wall Street. With a flurry of fourth-quarter profit announcements due out beginning after the close today, investors are particularly focused ...

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