[Porsche-O-Phile]

The more I think about it the better those shorts are sounding. I may join you in that very soon.

The implications for new lending are sobering. If these people have no market to resell their Alt-A or other loans, what incentive do they really have to write them? Nobody (it seems) wants to actually hold paper these days; it's all hot potatoes (subprime for sure, Alt-A more and more. . .)

Wait until bullets start flying in Iran. Then the fun really starts. Seems like my only decision is whether to bet more on the housing market collapse (including Alt-A) or on oil futures going through the roof.