Anybody that buys or sells anything based on that convoluted set of proposals in the NY Times article needs counseling. Plus, even if the Administration proposals were good for anything, the Dems would kill them just to keep the White House from getting any credit. Besides, helping 60,000 actually low income borrowers stay in their homes, will do little or nothing to help all the toxic waste CDOs about.
But, if it provides a good excuse to gun some stops.... go with it. Whatever way it goes, fade it.
I think you're missing the point.
No one cares about the CDO's ... the whole fear is that as people lose homes, economy weakens, confidence weakens, unemployment rises and so on. Basicaly economy drops. Toxic CDO's are last year's story. The question is is it spilling over into economy or not.
The Fed and the Government will do anything to bail out the homeowners. Democrats will support any worthy initiative with both hands and will share the credit and then bash republicans for weak regulations of the industry that allowed this to happen in the first place. Who do you think senators Dodd and Schummer are ?
As I said.. all risks are now to the upside.
Edited by ogm, 31 August 2007 - 05:33 AM.
