I'm away for a week and the financial markets have collapsed. Merrill-Lynch is sold, Lehman is bankrupt and other big names are teetering on the brink. All because people wanted to live in McMansions that they could not afford and the banks and the Federal Reserve were more than happy to enable them.
New rule: Next time I go on vacation, EVERYONE on Wall Street has to take a time out.
AND - NO MORE GIVING HALF MILLION DOLLAR MORTGAGE LOANS TO PEOPLE WHO ARE STILL MAKING PAYMENTS ON THEIR 1993 CHEVY CAVALIER!