What's a Sub-Prime???

Good day...

Been awhile. Hey, it's tough, hangin' out, having fun all the time... I'm a small doggie, it's my job.

I've heard of Prime Rib, and I know it's good, but sub-prime? If it's tender and tasty, I'm interested...

Ahh, sub prime mortgages. I get it. Check this article out:

http://www.kitco.com/ind/Schiff/jul132007.html

Interesting take on the situation. The worst may not be over. For those who don't know, the term "sub prime mortgage" refers to a whole batch of mortgages that have been written to, shall we say, less qualified buyers, without a lot of checking up on the income that was stated on the application. Also, many of these are Adjustable rate loans, or ARMs, which, the buyers may have qualified for the low introductory teaser rate, but probably wouldn't qualify for the new higher payment, now that the rate has reset.... or is due to reset kinda soonish.

Gonna hit a Brewers game tonight. Should be fun...

Just read a great book. Richard Laymon, "Island". Very nice. Den of Earth recommended this, and he made reference to a big thing around a third of the way in... which I may have missed, or saw it coming... but a great book. The second half really ramps up the intensity. Great juxtaposition of characters throughout. Kind of a first person sort of narrative, told as a series of diary entries, which gives it an interesting, palpable urgency and suspense. Seems odd at first, but it works. A somewhat disturbing surprise at the end, too... heh heh. Nice. Check it out. My library had it, Amazon has it... It's billed as horror, but I found it more in a vein of action adventure. When I think horror, I'm thinking supernatural weirdness, vampires, immortals, evil military lab generated mutants, something like that... this was nothing supernatural. Some of these people's brains are definitely miswired, but I'm not sure it rises to "horror"... Laymon might have a bit of a sick mind, or at least a very active imagination, but I freely admit I loved it.

Well, maybe a nap is in order....