The worst housing crisis since the
 

depression?? What is with these people on TV. None of them were born prior to 1985??

In the late seventies interest rates went to 18% on construction loans and if I remember 10% or above on mortgages. Anyone hear of the S&L crisis or the Resolution Trust Corp.

These guys on TV are idiots and only fan the flame.

Yep, I bought this morning.

Were you watching CNN when the market opened? It plunged 449 points in 9 minutes with over 100 million shares traded; it was like watching the scoreboard in the Fassel era when the Utes would go to Nebraska for a money game.

I hate to say it but this is very good for me. Rates are going to get worse for a day or 2 and then they are going to plummet once again

Why will they get worse, the ten year treasury has dropped to 3.68. Is there a temporary fear in the mortgage market the Fed move will be inflationary?

Ha!

Every time the Feds drop rates they get worse for a day or so, I think it is the fear of uncertainty.

In the interest of full disclosure, what I bought was Zions bank and Washington Mutual. The profits came to fast and I just got out. Not out of my original positions, but the ones I bought this morning.

So if these stocks go way way up from here, I won't be able to claim I called the bottom. I just made some quick trading money, which I don't try to do except maybe twice a year.