Housing prices are down, unemployment is up, QE II set sail immediately after the election and the overseas economic news is not good either. So here are my questions: Will this time be faster and harder? By 2005 widespread mortgage fraud had been uncovered, in 2006 housing prices cracked, in 2007 specialty Bear Sterns hedge funds failed and in the fall of 2008 full scale meltdown hit. This time the people who pulled the trigger the fastest, most and hardest in 2004-8 are the ones with the most money. So the rush to the exits will most likely be bigger and faster this time. Will congress cut off the Fed and the treasury at the knees this time because of their failure last time? It does seem likely since Obama kept most of the same team in place. How bad is this next time likely to be?