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: Think4Yourself who wrote (109050)	3/11/2008 6:46:37 PM
From: MulhollandDrive	Read Replies (2) of 306849

I still think their move today was a stroke of genius. It amazes me that they came up with this program. i don't quite understand the brilliance you ascribe to this...the fed has been taking 'baby steps' in this direction since august....and like trying to move a recalcitrant mule, the banks are saying no....STAMP! we need more! we are going to take our ball and go home UNLESS the fed allows us to NOT take the mark! the fed said it would do just that for now....oh and only the AAA paper....we'll see where that goes....what happens if the paper is downgraded? more feddling? probably so the question becomes for how long can the losses be hidden? i don't have the answer, and neither does the fed but it's been obvious from the start of all this last summer the fed would ratchet up the backstop mechanisms for as long as it takes....nothing 'genius' here that i can see....if anything the fed is conditioning the markets for even more intervention....ok, so they borrow for a 28 day term? crap continues to circle the bowl..... hold out and let's see what the fed does next? hmmmmm....

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