Here They Go Again

"On July 15th I actually posted a glass half full item about subprime suggesting that most of the problems or bad eggs were in the pipeline. If you view the chart and article from June from Bankstocks.com in the post you will see that new delinquencies were fading or burning out on a comparative basis. Now comes new data from July that indicates that a cause of this fade were earlier workouts or restructurings with borrowers. But, now exposed further to the cold reality of even lower housing prices, those are once again falling into trouble."