BC: Rearranging the deck chairs on the titanic

March 5th, 2009 11:45 pm

Rearranging the deck chairs on the Titanic

"This can’t be good for the financial system.

NEW YORK (AP) — A stunning 48 percent of the nation’s homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed.

But that’s not the worst of it."