Big Numbers

Spread Between Fed Funds Rate and Mortgages: History Doesn't Support Greenspan -- Seeking Alpha:

"The total bad loans could be at the range of $7 - $11 trillion, or 3.5 - 5.5% of all loans, as estimated by Mr. Mayo, worse than the 3.4% ratio during the great depression. We have written off only about 2% so far, about 3rd or 4th inning of a 9 inning game. There is still a very long and dark night to go."

[Update 2015 05 25 - Indeed, the foreclosures continue to this day.]

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