It's March 2009. I’m tired of talking about foreclosures, but a new wave is coming. Are the banks and the Federal Reserve ready? I have to believe that the days of the “bad commercial paper” and the combined sale of hundreds of mortgages as one convenient, supposedly "steady as she goes" investment vehicle are over. See my February 2008 article for a clear explanation - The Sub-Prime Mortgage Crisis Explained in Stickfigures. I do know that Alt-A is the new Sub-Prime, and I thank investment scholar and all around smart, conservative guy, John Mauldin for helping me to know more about the details of bad mortgages, the ailing macroeconomy, the paper tiger in China, and the return of the Dark Ages to Western Europe…and lots of other details that do not make the mainstream media as often as they should. John is a straightforward advisor and his free newsletters are packed with smart information, every week That's right, John Mauldin, Best-Selling author and … [Read more...]