Intra Entry: Perfect Storm

Dear Diary,

Was that the movie with George Clooney and his boat sank?

From Bloomberg: Washington Mutual Says Housing Market in "Near-Perfect Storm"

Washington Mutual, Inc. ... said today that conditions in the housing market are creating a "near-perfect storm"...

"The combination of rising delinquencies, higher foreclosures, more housing inventories, increasing interest rates on many mortgages and greatly reduced availability of mortgages due to limited liquidity is creating what we call a near-perfect storm for housing," [CEO Kerry Killinger] said.

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