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User Info	Bush freezing adjustable interest rates; entered at 2007-12-02 15:13:31
Nomullet Posts: 5704 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 2007-12-02 15:13:31