The spike in delinquencies are coming off historically good credit quality in 2004, they note, and the levels of delinquencies aren't terribly higher than they were in the last subprime lending crisis of 1999 to 2000.
What is interesting to note is the interdependence of financial institutions of varying credit quality and the importance that investors understand which entity actually controls the distribution of their capital.
Businesses and cities across the country should take note: Locally-inspired public spaces, even temporary ones, and other quality-of-life factors have a real effect on economies.