CNBC just had a breaking story on the Countrywide meltdown… and AIG’s article is on Yahoo.
http://biz.yahoo.com/rb/070809/aig_subprime.html?.v=8
All 3 categories of their borrowers are defaulting, subprime, non prime, and, you guessed it, prime.
China is warning of inflation…CNBC is waiting for the effects of the mortgage news on the markets overseas.
I’m going to go stock up on food and supplies.