Note: the mortgage lender I spoke with is not necessarily the largest single recipient of federal bailout money, just one of the largest. Also check me out on
http://www.facebook.com/PeterSchiff and http://twitter.com/PeterSchiff

Duration : 0:8:24

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In a segment on CBS that aired yesterday, 60 Minutes correspondent Scott Pelley talks to investment and credit experts about the new types of mortgages that will create a second wave of foreclosures. The country has already suffered the subprime mortgage crisis, and the experts say the next wave of risky mortgages to default are the Alt-A and option ARM mortgages, which were also bundled into Wall Street securities and sold to investors.
For more information plesae click the link:
http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml?tag=FeatureBoxTabsContent;FeatureBoxTabs2

Duration : 0:4:40

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