I may have come to US such a time whe the skeliton of US economy is more evedently visible than anytime else. Its endangering to wall street's health and the future of several multi billion entities in the financial market ( Like Bear Sterns etc) and threatning too to most US Manufacturing company. Mortgage industry is gone .. its out of market limelight, into horrble downfall to bancryptsy. The tip itself is so bigger --no difficult to imagine how bigger and deeper the iceberg would be.
The many theories coming out into media for this worest of economic crisis when recession is practically looming large into the air does satisfy the general man to get into cautionary mode amidst shock and awery but describes little how the crisis has been getting into perpetual motion of crisis feed and counter reaction of market, like a snowball effect and gradually racing to a crash.
The losses are so huge and its impact to the financial institutions are so catestrophic that even the giant financial bigwigs are unable to take them and forced to write it down. The financial system which had been institunilased (The FED) to protect the market from crisises like this is unable to respond such a monstrous hole in the system like this and itself sinking into trouble.
