Sorry Ease. You are not correct. And the credit issue (it is not a mortgage issue, per se, but a credit issue that is the most wide-spread problem) could hurt PTSC and all stocks if there is a major flight to security and runs on the banks.

How did we get into this mess? We were forced into this position by legislation penned by Barney Frank (D), Chris Dodd (D), and others who demanded banks loan to people who could not afford loans, OR the banks would suffer consequences. The trial lawyers licked their chops at the opportunity to sue "racist" banking institutions (the most heavily regulated business in America).

Several people, prominent among them President Bush (as far back as April 2001, again in Spring of 2003 and later in 2003), and McCain (2006) raised the issue about Freddy and Fannie only to be shut down in Congress in committee. Over and over again. Even Greenspan was speaking out about this over and over.

See it here: http://www.youtube.com/watch?v=3QBRI... . Watch and listen carefully to what Barney Frank says. Just a year or so ago he was urging the removal of downpayments completely for many more people. This drives me nuts. It is Animal Farm coupled with Atlas Shrugged. My God, where are the pitchforks and torches. There needs to be a general cleaning out of Congress, beginning with a good ole public mass hanging.

This 8:00 minute clip is DAMNING for who is to blame for this fiasco: http://www.breitbart.tv/?p=184743. Watch it carefully, everyone.

Happy viewing

--tps