Ouch. Again, is there ever going to be any justice or will the US let Wall Street completely get away with this? Why such meek action to date? People deserve a hell of a lot better than this yet the foot-draggers in Washington barely notice. Some of the greatest destroyers of wealth like Charles Prince, Angelo Mozilo and Stanley O'Neal all walked away from the wreckage with tens of millions in their pockets.
Moody's Investors Service threw cold water on optimistic projections of a V-shaped recovery in the battered U.S. housing market, predicting it could take more than 10 years to get back to boom-level prices.
"For many reasons, the rebound will be disproportionately small compared to the decline," Moody's said this week in its latest outlook on the residential market. "It will take more than a decade to completely recover from the 40% peak-to-trough decline in national home prices."
