Holy Foreclosures!!!

I like the term "nonperforming loans" better than saying "the borrower isn't paying back what he owes" don't you?

Here is your link to a scary story.

From the article:

More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.

I'm glad the pork pie wealth transfer bill is working so well and that the economy is improving. I'd hate to see what it would be like if it were going in the tank.

We aren't out of the woods, yet. Not by a long shot. Are your finances in order?

The article says 72 banks have failed this year, but that is out of date. Two more failed today. The total is now 74 bank failures this year.

Hope and change, Baby!! Hope and Change!!