FDIC loan guarantees, Fannie & Fannie buys of Toxic mortgages, and the TARP is resulting in higher yields, wider GSE Debt spreads and higher mortgage rates, which are signs that The Great Credit Crunch remains in the third inning with that one-year rain delay. The TARP is now on the infield, but covering a swamp full of alligators. Crude oil has reached a $75 handle as I expected. A weekly close below $74.90 would be the first since October 2003. More bad loans are on the horizon: Credit Cards, Home Equity Loans, Commercial Real Estate and Construction & Development Loans are set for increasing defaults. We are entering a multi-year Bear Market and heading for Recession. To subscribe to my special report, �The Great Credit Crunch� and updates to Richard Suttmeier�s List of Problem Banks and new Richard Suttmeier�s List of TARP Banks, send an email to GMCReports@aol.com or to Support@ValuEngine.com.
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