Why we haven't hit the bottom: Alt-A and Option ARM Mortgage Resets are coming

[MikeWB]

You can watch the video from 60 minutes here: http://www.newmogul.com/item?id=7196

Well well well... if you're in the market today, you're a fool who's just waiting to lose their shirt. This is a perfect dead cat bounce (meaning, the market is going up but there's nothing behind it... phrase comes from the fact that even a dead cat bounces if you throw it from high enough). Looks like these new mortgage defaults will provide as big or even bigger mess than subprime mortgages have!

Just when you think that things are getting better, you realize that we're nowhere near the bottom. Truly scary video

I'm becoming more and more pessimistic as this sort of stuff comes out to light.