$500 Billion here, and $500 Billion there... pretty soon you are talking real money

I have been posting for sometime on the Mortgage/Housing Crisis.

I have posted that aggregate mortgage write downs will land between $1.5 Trillion and $3 Trillion, and perhaps, just perhaps, more.

Well, we are officially 1/3 of the way to my lower range number. $500 Billion in write offs and counting. There is NAFC we don't get to the $1.5T. The 64,000 question is do we get to the $3T?

I think we do.

Mentatt (at) yahoo (d0t) com