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Friday, August 17, 2007 12:00 AM

Panic on Wall Street

You've heard about the home-loan bust, but do you know your derivatives from your tranches? Read Salon's easy guide to understanding the current market freakout.
By Andrew Leonard

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  • Thursday, August 16, 2007 08:44 PM

    Wait until the credit card debt hits the fan

    The mortgage scam is only the tip of the iceberg. The same thing is going on with your credit card debt which is also packaged and resold to each other. With interest rate for sub-prime creditcard borrower exceeding 30% and equity refinancing shut off it's only a matter of time before it hits the fan. When that happen it won't be a pretty sight.

    —xeroid47 Read xeroid47's other letters

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