what the... wednesday, page-67

Just my opinon, this is chart aside. I work for a super/wrap fund who manage are a one stop shop for investors. The number of redemptions has risen dramatically over the past couple of days, other similiar funds are reporting similiar things. A lot of the hedge funds that we invest in have now closed redemptions, or are allowing people to get out a percentage of the amount they try to retrieve(which is about 4 percent of monies tried to be redemeed). In short, people are desperate to get there money out of the markets.

A quote from bloomberg today

About 12 million U.S. homeowners owe more than their homes are worth, compared with 6.6 million at the end of last year and slightly more than 3 million at the close of 2006, said Mark Zandi, chief economist at Moody's Economy.com.

If that rate continues to grow the whole housing market will collapse, taking the banks with them. No amount of taxpayers funds will fix this mess.

I am sitting my cash in the bank. The great crash is just around the corner.