Yes, there are those naysayers and they could be right. I doubt it. Our economy is stronger than that, IMO. When I was in high school in the late 1970's there were lots of wackos claiming we had 10 years to fix the world's pollution problem or we would all be dead. Well, we fixed nothing and somehow I made it. There will always be people who believe the sky is falling and they look for the next apple to fall instead of going to work on the problem.

For those who have not done their homework, the problem started with a revised bill passed in 1995 requiring banks and mortgage companies to lend money (or be fined) to those who could not qualify for home loans (http://en.wikipedia.org/wiki/Communi... ). As with many well meaning social programs, the banks and mortage companies went crazy with dumb loans to people who could not afford expensive houses. Now, some ten+ years later, we get to pay $700 billion to $1.2 trillion dollars to bail out the system. We danced, now the fiddler must be paid.

IMO, these guys get it about right: http://biz.yahoo.com/bizwk/080922/08...

If your risk tolerance is shaky right now, EDIG is probably not a stock you should be betting will hit "soon." I wish I could state with confidence that we will see a big settlement next week or next month. It is possible, just not something I would bet on today.

Like all the economic meltdowns before it, this one shall pass.

John