Wall Street Bubbles

As the real estate market has fallen and trillions of dollars of home equity has vanished...we always look for someone to blame. We try blaming the real estate agent, the mortgage broker, Alan Greenspan for keeping rates low, our brother in law for talking us into it...the list goes on an on. People usually don't want to look in the mirror and realize that they bought more house than they could afford and they should have known better to not use a "No money down" mortgage with a ridiculously low interest rate and is now set to explode. But since they refuse to look in the mirror and refuse to suffer the coming pain of losing a house or continuing to pay on a mortgage that is now greater than the value of the home...they want someone else to take the pain. As if right on cue...in rides the Federal Government to bail us all out, using paper money and phony promises. When will we ever learn??...the answer is "Never".

This is an awesome article from an insider on Wall Street who lost his career in the "Dot-Com" tech stock run and then jumped right into the next expanding bubble ...real estate.
http://www.theatlantic.com/doc/200812/blodget-wall-street