In June 2007, I noted that 80 US Mortgage Lenders had then gone bankrupt since late 2006. We predicted that many more would follow. Today, less than 1 year later, the number has risen 225% to 260 according to Lender Implode.com. outpacing even our bearish calls. The number continues to rise weekly as the economic slowdown plays out.
Meanwhile one of the earliest bears to call the present crisis, Prof. Roubini still remains pessimistic over the economy and points out that stocks at present levels are dramatically under-pricing the length and duration of the on-going US recession:
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