So will there be a domino effect resulting in a economic meltdown with the collapse of sub-prime mortgages in the US?

When will they ever learn???Oh when will they ever learn???We go through this kind of crisis periodically when 'capitalists' think they have found a glorious new 'creative' way to manufacture high income, and it almost always ends in a crash. Because no one regulates them before it's too late. The mortgage problem is not only taking away the dreams of borrowers, but has the potential to wreck the whole economy - but this has happened many times before and will happen many times again. "So it goes".

When an industry is based upon preying on the financially ignorant in order to 'securitize' debt, there is bound to be a very elastic rebound to reality after they have significantly plundered their parasitic host. I am not surprised by this at all, having worked for a subprime mortgage company myself.

Perhaps one day the fastest-growing industries in the US will not revolve around sucking the marrow of life from those too poor and uninformed to realize how badly they are being drained. Until then, financial and medical industries will continue to perform their usurious 'services.'

The sub-prime mortgage collapse is about an increase in an already fairly small percentage of defaults. These mortgages allowed many low income families to own they're own homes and most of them are paying off their mortgage. While there may have been some unscrupulous agents, the companies themselves took a risk with the people and they are both being hurt for in in some cases. Any overflow into the financial community is as much due to over reaction. As for the tone of this piece, always remember your reading the BBC on the USA.