So Lehman Brothers have filed for chapter 11. Not a surprise really, and I think not the end of the sort out of the financial sector. The scant regard that they have given to the granting of mortgages and loans was always going to come back and bite theirs bums, or rather eat them whole.
They were granting mortgages called 'NINJA's this stands for no income, no job, no assets. And they wonder why people could not repay them.......
When we get back to England, we will be buying a house as soon as possible. Paper money soon will have no worth. Whatever we have left will go into gold and silver,as I heard that this is what really rich people are doing. And as I learnt quite a while ago, they normally get it right.
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