Subprime Mess Getting Worse

Nouriel Roubini has as usual a good wrap up of the bearish news on the subprime sector, with lots of useful links.
An especially interesting link is this columns by Bill Gross on how yield spreads are rising in other sectors as well as a result from the subprime (Try to ignore the socialist-egalitarian nonsense in the first half of the column and focus on the latter parts about yield spreads).

Another interesting story, not included in the Roubini post, is this story about how a leading subprime lender believes there will be no recovery in the housing market before 2009.

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