I can chime in on one - I too think that there is something out there - very unpleasant. Lehman might be? Only those close to inside source really know and if it is bad, when the rest of world finds out - well, ha,ha time? But there is always the Fed to come to the rescue. The big boys always get all of the attention, but the two that I would like to know a tad more about (regarding sub prime) are Deutsche bank and Wells Fargo. I think these two are hiding a lot and were in the mess up to their necks. You can bet that there is one hell of a lot more out there and anyone that thinks this is over is plumb crazy. Last months little upswing in buying is probably more b.s. than reality. They NAR counts anyone that buys - they neglect to mention that Close is what counts. Half of these so-called buyers are getting rejected. The price of fuel has already damaged the economy to the extent that it will take years to recover. Therefore, Congress, the U.K Parliament, OPEC, Hugo and whoever else wants to get in the act are all a bit late. The mid West is being hit with rain and flood and the crops are getting in late. It's the beginning of hurricane season and lets not forget the tornado and quake potential that is part of the U.S. People are loosing jobs rapidly, food is up,up and away and all that is really needed is a good heat wave.
Could be a long hot summer.