If it is an option arm or interest only it is sub-prime. I even heard one state that people were buying automobiles in the past by pulling cash out of their house and paying for them with the cash, but that won't be happening any more. Really! People always have difference of opinions but never before have so many spoke with so little knowledge.

A Wall Street analyst asked an investment banker if she was surprised that a major entity was buying $1.5 billion of sub-prime loans from a sub-prime lender and the investment banker answered: Sure, but at a price! I believe the investment banker was inferring that at a low enough price anyone would buy anything. But do you really believe someone would buy 1.5 billion of worthless loans, as sub-prime is currently deemed, at any price? It was an easy answer for the investment banker that people would readily accept and neither cared if it didn't hold an ounce of truth.

We are much too ready to accept the spoken word from someone who comes from a non-biased point of view, or even from a biased point of view if they are speaking with authority.

No one seems to want to question what they hear. Everyone, it seems that is in the media, is afraid to ask a follow up question for fear of alienating the person being asked, or alienating the audience for asking the question. Our information is coming from two ships passing in the night going in different directions. One gives a supposition, the other counters it and away they go never to interact with each other again.

Have we finally reached the point where everything that is said over the airwaves must be taken with a grain of salt. If so, I am afraid we are going to run out of salt.