For those of you who wondered how can the banks survive making all the crazy loans. It seems we may only be 40% of the way there. Imagine what these balance sheets will be like when the lenders accept the fact that their security interests were propped up by their bad loans. Now that they are not making the bad loans their security interests are cracking.
Its seems short sales and foreclosures may only be just beginning.
http://www.cnbc.com/id/15840232?video=659529306
