"We have a huge debt bubble."

From CNNMoney Your portfolio: Defending against subprime:

Some analysts paint a bleaker picture and believe Bear Stearns is just the tip of the iceberg.

"I think we're looking at something similar to the stock market declines we saw in 2000 and 2001," said Dick Bove, a financial services analyst at Punk Ziegel. "But this time we have a huge debt bubble instead of an equity bubble."

"I don't think we can properly value those companies right now, and the fear is, of course, that they're tremendously overvalued," he said.

You think?