[Rhodes22-list] Dow Jones.....I hate to say it.....

TN Rhodey tnrhodey at gmail.com
Thu Aug 9 18:33:41 EDT 2007


Man this heat sucks....I have been covered up with business and pleasure
travel and little time for the list. I took a lot of heat from many on this
list when I mentioned the credit crisis was bigger than most realized. I
really hate being right on this one because it is costing me money.

I worked for years in the mortgage industry and I have a pretty good
understanding how the secondary market works. The house of cards is coming
down. I hope some of you cashed out in time. I took my own advice and pulled
a bunch of cash out of the market and I am glad I did. What a mess! ....and
no I am not making a political post...just commenting on the financial
crisis that has yet to hit bottom. The good thing is there are plenty of
banks offering over 5% on Savings Accounts.

Fair Winds,

Wally


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