Financial Vagabond

What concerns me most is looking at the highly probable future outlook… The gov’t is looking to bail out the Freddie and Fannie (dependent upon congressional approval), which will help out new, but not existing home buyers. By adding their debt the gov’t is using our tax dollars and inflation adjusted dollars to secure them. [...]

So, it seems that Philadelphia is the first US city to halt foreclosures. Hmmm… Reuters Article Perhaps this is the calm before the storm. If we have seen the worst of the subprime mess I think we are gravely mistaken and kidding ourselves. If foreclosures are halted what does this mean for the financial system? [...]