re: #319 3 wood

LGF locked up for me for a few minutes there. sorry for the delay.

Very good question, and please don’t hesitate to ask.

First a lot of people are still being thrown out of work and defaulting on loans. Second, it takes a while after a loan goes on the “nonperforming” list before it is considered in default,s o there are time lags. Third, it can take a while for banks to check on the value of collateral and that adds time to the equation.

Simple answer is, the economy is still really screwed up, despite what the Obama worshippers in the MSM will try to spin you, and we are a long way from being out of the woods yet.

Worse than that, we’ve had what *appears* to be a return to normalcy, but only at the cost of the fed and treasury putting unheard of amounts of new money into the system.

One assumes there will be hell to pay at some point in the not too distant future.