See: Too Little Too Late - The Money Party at Work Feb. 18, 2009
There are 4.9 million Alt-A and subprime loans. Alt-A's are loans to those with higher credit ratings that have special introductory features. Subprimes are loans to people with marginal credit.
15% of Alt-A loans were at risk in at the start of the year. 30% of subprimes were at risk.
A majority of Alt-A loans will "reset," increase interest, in the next 2 plus years. 25% of subprimes will do the same at a much higher rate. That spells disaster since the "resets" are a major trigger for bankruptcy.
Some Resources
Bill Moyers Journal - Interview with William K Black Bill Moyers Journal, Apr 3, 2009 (Transcripts: PBS pdf Word.doc)
Stiglitz: Capitalist Fools (Essential Reading"
Economic Disaster -- Are You Next? Feb. 5, 2009
Too Little Too Late - The Money Party at Work Feb. 18, 2009
Enough of Everything But Dollars Mar. 2, 2009
Enabling Acts for an Era of Greed - The Money Party at Work Apr. 14, 2009
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