The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Peter V who wrote (106335)	2/22/2008 7:01:33 PM
From: lifeisgood	Read Replies (1) of 306849

Best I can tell the thinking is: With the monoline insurers "solvent," banks can continue to pretend that the mortgage loans currently marked at level III are "performing loans" when, in fact, they are not. Consequently, banks don't have to take bad loans on their balance sheet and write down billions. It will just delay, but not avoid, these write downs IMO. The loans are still bad whether the insurer of those loans is solvent or not. best... LIG

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