Wednesday, Jun 20, 2007
US housing 'Blood Bath'
Bloomberg: Mortgage Rate Rise Pushes U.S. Housing, Economy to `Blood Bath'
``It's a blood bath,'' said Mark Kiesel, executive vice president of Newport Beach, California-based Pacific Investment Management Co., the manager of $668 billion in bond funds. ``We're talking about a two- to three-year downturn that will take a whole host of characters with it, from job creation to consumer confidence. Eventually it will take the stock market and corporate profit.''
Posted by kbob @ 09:47 AM (146 views) Add Comment
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