I agree DV, we are in a recession and its going to be a long one. Ya KK, 4% inflation my ass...try 14%+ in reality. IF Fannie and or Freddie bite it and their 5 TRILLION in mortgages along with it we are hearing the word DEPRESSION being mentioned seriously for the first time in 75 years from respected voices in the financial world.

Hope the doomsdayers are wrong but if those two go down it will make these bank failures pale in comparison. One lesson to be learned from IMB implosion today is if you are fortunate enough to have 100k+ liquid make sure it is in various locales and not locked up in any one bank as if what happened today happens to WAMU or Wachovia or whoever next week or month anything over that 100k could easily just disappear...ah screw this im gonna go have a beer...cheers