So where did this economic predicament begin? Debt negotiation. It all started with the real estate boom about 6 years ago, in particular the sub-prime mortgage sector. There were countless numbers of people who were getting mortgages that had no business getting them in the first place. Plus you throw in the fact there were scandal ridden mortgage brokers looking to earn a buck off of these easy targets. The reprocussions of this situation is now there are large numbers of debtors are losing their homes. This spells disaster for the economy and has trickled down to hurt many other monetary markets. The credit industry has been making it’s grip stronger and as a result charging these people unholy interest rates. Now we are having gigantic problems in the banking sector too with the bankruptcy of Washington Mutual. In turn this banking plague negatively affects the NASDAQ.

Tags: countless numbers, debt negotiation, economic predicament, real estate boom, reprocussions, sub prime mortgage, washington mutual