Wall Street has been pummeled as a deepening credit crunch spooked the market, and led to unease about potential losses at financial firms and funds. The Federal Reserve, which has injected some $64 billion of liquidity into the U.S. banking system since Thursday, said it stood ready to act again should market conditions warrant.

Oops. Yep, more people than ever own there own homes, and now more people than ever are going to have them foreclosed.