All across the united states of america there were substantial overbought positions in all kinds of real estate options whether you talk about the residential real estate marketplace or whether you consider the commercial real estate market place. Lots of overbought positions were there even in the land ownerships all across the whole country of united states of america.
I believe the root cause behind this substantial overbought positions in the real estate market place on across the whole country has been the instrument of credit default swap that has been empowering all the financial institutions and moneylenders including all the leading banks, institutional mortgage financers and all kind of players in the real estate market place.
None of these organizations ever realized that the cross credit default swap contracts between all these organizations would actually initiate a never ending loop that would in fact create an illusion inside the whole system, and massive illusion of credit default swap and a massive illusion of financial security of all these financial institutions in the marketplace.
The result is visible now to the whole world as the whole world can now witness how the whole financial institutions marketplace has dramatically come under the severe credit crunch from all the directions!
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