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|User Info||Bush freezing adjustable interest rates; entered at 2007-12-02 15:13:31|
Registered: 2007-11-11 SW
Okay, I agree this is not going to be a 'majic bullet'. But at least you can assign a value to these loans. The write downs will be atrocious, but better than .11 on the dollar.|
This is <i>not</i> a goverment bailout. They will simply be the facilitators. Is their a law against banks not resetting arms? If not, it is simply a voluntary action.
And all you "it's not fair" people need to get a new hobby. The markets, and life aren't fair.
As far as I can tell this effort will help the banks capitulate and accurately write down these assets.
Last modified: 2007-12-02 15:18:17 by nomullet