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Politics : Welcome to Slider's Dugout
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To: jim_p who wrote (6006)8/16/2007 11:58:54 AM
From: RonMerks  Read Replies (2) of 50291
 
Jim, no arguement with what you're saying. How do you view this consortium of 40 banks being willing to extend 'UNSECURED' lines of credit to the tune of 11 Billion dollars to CFC here? - a positive, a negative; or just more of the same recklessness?

If I read it right (someone correct me if I'm wrong) these were 'UNSECURED' credit lines- meaning if CFC were to go Bankrupt- these banks get nothing.

I kind of think it's a good sign for CFC and an ultimate resolution to the repricing of all this junk.

And I have a question. I dont understand the risk of commercial paper. Are they talking about auto loans, credit card and consumer loan paper?

If so, I don't think that got anywhere near as out of control as the mortgage market. The credit card companies seemed to have more on the ball than the mortgage lenders in this go-round.

Comments?

Thanks. Ive enjoyed your comments.

Ron
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