FDIC Sees Another Wave of U.S. Credit Stress Coming

FDIC Sees Another Wave of U.S. Credit Stress Coming

[url=http://www.forbes.com/reuters/feeds/reuters/2008/05/16/2008-05-16T141907Z_01_WAT009493_RTRIDST_0_USA-HOUSING-FDIC-URGENT.html]www.forbes.com[/url ]

United States - WASHINGTON (Reuters) - The head of the Federal Deposit Insurance Corp. said on Friday another wave of U.S. credit stress was coming involving non-mortgage loans.
Bair, in prepared remarks for a Brookings Institution event, said delinquency rates were rising for construction and development lending as well as for commercial and consumer debt. However, U.S. banks are still healthy and in a much stronger position to weather the storm than they were during the savings and loan crisis of the 1980s.

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Awsome. The hits just keep on coming. Hey, look at the bright side--It will only affect the little peons and their families, the crooks and banks behind this will keep getting bailed out by the fraudulent FED and continue laughing all the way to the bank.

But remember, nothing's wrong with the economy, we're just in a "little slowdown".

Bair lauded efforts by Democrats and some Republicans in the U.S. Congress to draft a bill offering federal mortgage assistance but said "more proactive intervention" is needed to prevent home foreclosures.

[url=http://www.forbes.com/reuters/feeds/reuters/2008/05/16/2008-05-16T141907Z_01_WAT009493_RTRIDST_0_USA-HOUSING-FDIC-URGENT.html]www.forbes.com[/url ]
(visit the link for the full news article)

Only one thing is sure. The politicians will never take responsibility for this disaster. We can expect more Wars as a diversion. Maybe when we go TU we can all put little flags on our cars in a sign of solidarity and patriotism as we flip our Creditors the Bird.

How do you apply the KY conservatively or liberally. Tough times are seriously coming ahead I hope the best for all just hunker down and try not to spend where you dont have to. The government is full of shiat. Bush will go down as the worst president followed by his ancestor president Pierce.

Dirst time you provided a semi reliable source in any one of your posts. This site is crap and going down hill, the people here keep thinking they make change yet they are just as lazy, uneducated, ignorant as thoseyou claim to "inform"

Get a life.

oh look another indicator that the economy is going to hell fast. add this to all the other stuff and it realy becomes apparent what is happening. well cue the wave of people coming in to say" its not as bad as you think, were not in a recession, everything is under control" maybe one of them can tell me where i can find a hole in the sand big enough for me to fit my head in.