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Yeah nr, it just stuns me that some of these gallahs think they can get away with it. It highlights the US (and Aus) regulatory authorities and the media have no idea. How about the July 31 article re: the US financial accounting standards bureau giving US banks another year to bring off...

maybe your bank already knows how high their trickle feed of interest rates is going (and how low subsequent property values)...banks are good at trickle feeding bad news...like Merrill Lynch's rinse lather repeat of reassurances and write downs.....check the post of 29/7/08

Swallowing any sense of ego here, I'll put up m2cw, cos it is a topical thing at work currently. Most days at work, I see several school kid clients. So many of them seem directionless. I can't help but feel their parents and a hedonic society has let them down. My life has had more turns...

yup, the truly wealthy people I know don't need to borrow. They just wait for times like this to go around buying stuff from the overstretched. In which case, they don't make well rounded mentors for a starter outerer.

So Dazz, in all sincerity, are any of your mentors wealthy? If so, did they see the sub prime mess coming?