Dismal Science, Dismal View: Pair of CU Economists See Economic Troubles (But Good News In That...

PASADENA, Calif. -- Economic trends are not looking good, especially in the housing and credit markets. But there is the one consolation, two credit union economists suggested, and that is that CUs tend to do well in tough times.

Dwight Johnston, WesCorp's VP-economic and market research, and David Colby, CUNA Mutual Group's chief economist, said falling home prices are just the tip of the iceberg. They predict job losses in residential construction and problems in the sub-prime lending market will spill over into the larger economy.

What's worse, the two sa