"As correspondent Scott Pelley reports, it turns out the abyss is deeper than most people think because there is a second mortgage shock heading for the economy. In the executive suites of Wall Street and Washington, you're beginning to hear alarm about a new wave of mortgages with strange names that are about to become all too familiar. If you thought sub-primes were insanely reckless wait until you hear what's coming."
[Read More:A Second Mortgage Disaster On The Horizon?, 60 Minutes-CBS News:]
Tuesday, December 16, 2008
A Second Mortgage Disaster On The Horizon?, 60 Minutes: New Wave Of Mortgage Rate Adjustments Could Force More Homeowners To Default - CBS News
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