Everywhere I look, the headlines indicate bad times ahead.
July 11: FDIC takes over IndyMac Bancorp as the California lender collapses under soaring losses
July 13: US Treasury rescue of ‘basically insolvent’ Fannie Mae and Freddie Mac an ‘unmitigated disaster’ according to some
July 14: General Motors to announce job cuts, factory closings
Washington Mutual and National City Corp [...]