Is the Sub-Prime Bubble Getting Ready to Burst?
As we keep tracking the situation with more and more Americans being unable to pay their mortgage I want to follow up on my post yesterday and draw your attention to some interesting news in just how seriously the market takes the sub-prime mortgage failure issue.
Lehman Brothers, a well known Wall Street mainstay just announced record earning...but its stock fell 4%
http://money.cnn.com/2007/03/14/news/companies/lehman/index.htm?postversion=2007031413
Lehman is by no means alone, yesterday Goldman Sachs also disclosed record earnings and their stock was still significantly down from where it was just three weeks ago.
Wall Street might have just had a great quarter, but the market sees something in the future that clearly has it worried - a problem folks who've been unable to pay their high-interest mortgages are all too aware of.
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