[Wayne Maybury]

I have been following this whole sub prime situation for quite a while. Much of what I have read is simply unbelievable. People that had absolutely no way to make the payments, were being encouraged to buy homes. The lending brokers were pulling all kinds of tricks to make a potential borrower appear to be better than he/she was. They produced false bank statements, over estimated income, etc. The idea was to make the loan and get the commission, never mind that the borrowed could not make the payments.

I felt stupid when I found that I could not understand how the lending actually functioned only to recently learn that even the banks did not know what loans they were buying or making in the form of asset backed commercial paper. This whole debt situation has been spinning out of control with some people making quick money, others losing out.

I recently read that defaults on adjustable rate mortgages are probably going to begin to kick in just as the sub prime mess is being cleaned up so this isn't over yet.

Scott, I work for a Canadian forest products company and we are hurting up here, big time. Our fibre costs, especially in Eastern Canada, are considered to be the highest in the world. Combined with a very weak US dollar, high labour costs, and high energy; it makes the situation very difficult. Our stock has historically traded in the $7 to $12 range with the all time high being over $18. It is at 72 cents today and we are not the only one suffering, it is an industry wide problem.

Wayne