On Sun, 9 Dec 2007 15:41:26 -0500, "Eisboch" wrote:


"Short Wave Sportfishing" wrote in message
.. .


Look into it sometime and see what havoc the sub-prime market is
having on smaller Eurpoean countries.

It's scary.

You just made an extremely good point, Tom.

The current housing/credit crisis is not a USA specific issue or problem.
It's world-wide.

I just read an article about a small town in Norway that is into CDOs
structured on sub-prime debt and they don't have enough money to fund
their social retirement system and local government.

The Dutch, who have a 63% income tax, are also having some
dislocations due to CDOs. The viability of their social system is
comeing under severe pressure.

The media and spin artists give the impression that it's unique to the
continued downfall of the USA.

I agree.