Monday, September 04, 2006

Great chart of dicey loans

According to the Fed's own figures, “the total amount of residential housing wealth in the US just about doubled between 1999 and 2006, up from $10.4 trillion to $20.4 trillion.”

UP $10 TRILLION IN 7 YEARS! That is the very definition of a humongous, economy-killing equity monster. In other words, the Fed knew the actual size of the bubble and chose to steer it towards the nearest iceberg without warning the public.

Click here for CHART


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