Pretty Scary Report from 60 Minutes
The television show, 60 Minutes, recently aired a terrifying report that suggests that the housing meltdown is less than 50% completed. The problem is that 2.5 trillion in Alt-A and Option ARM's are coming up for rate readjustments in late 2009 and 2010.
Here's a link to the report:
http://www.youtube.com/watch?v=iUuROWEMjm0&eurl=http%3A%2F%2Fwww.silverbearcafe.com%2Fprivate%2F05.09%2Fmeltdown.html&feature=player_embedded
Topics: 60 Minutes, Alt-A, ARM's
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