JAllen: Tonight we are discussing "Is this sucker going down, or not?" I'm back today with my usual distinguished guests, Mike Shedlock (Mish), Mr. Mortgage, Patrick of patrick.net and Nouriel Roubini (hisssss!). Patrick, we start with you. Is the sucker going down, or not?
Patrick: Of course, anyone who buys now will suffer losses immediately, and for the next several years at least, as the sucker goes down to come into line with tighter lending and stagnant salaries.
Mish: Me thinks not. It's time to Take Back this Sucker from those who want this sucker to go down at taxpayer expense. Please keep phoning and faxing.
JAllen: Mr. Mortgage, what do you think?
Mr. Mortgage: Any sucker going down will add a large amount of inventory to an already pounded market in the West Coast. This will be caused by Meredith Whitney scaring the crap out of everyone.
Roubini: It is a disgrace that no professional economist was consulted by Congress. I have been predicting the downing of the socialist sucker since 2001. I predict this sucker could very well go down...especially if money isn't loosened up.
JAllen: We have a SURPRISE guest, former governor of NY, Eliot Spitzer. Governor, what's your take?
Spitzer: I've already paid too much for too many suckers going down.
JAllen: Well, there you have it.
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