June 29th, 2008 - In a world gone mad with “irrational exuberance”, The Hair of The Dog That Bit You probably seems like a logical cure for the “Night out on the town” we spent the past seven years imbibing on in the real estate markets! If the party was that good, perhaps more is better. The thing is, sooner or later, if the headaches don’t get you – the dehydration will!
Incredibly, despite the massive dehydration we now face in the credit markets as a result of all the carousing during the World’s Longest Cocktail Party, many folks (including the Feds, and self-serving Wall Street and real estate industry “bartenders”) seem to think all we need to do is keep swilling those “Hairy Dogs”… until the market “recovers”. Full article available as of July 3, 2008 at: http://www.sellerloans.com/newsletters/07042008/index.scms
