Mortgage & Money Blog

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Sub-prime mortgage trigged worldwide credit crunch earlier this month. Fed is in very tough position. If it cuts rate, devalues dollar more, increases inflation, and pushes away international investors, if not cut, it hurts housing market deeper, which counts for about 20% of total US economy. It is everyone's guess now.

http://money.cnn.com/2007/08/31/magazines/fortune/fink_blackrock.fortune/index.htm?postversion=2007083109

Now, middle classes American have to pay this mess loss again because our president is going to help poor to keep their homes.

http://money.cnn.com/2007/08/31/news/economy/bush_subprime/index.htm?postversion=2007083104

Any comments?

JR