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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (124730)5/22/2008 12:55:13 PM
From: ChanceIsRead Replies (2) of 306849
 
"it’s a train wreck,” Bair said"

I hate to sound so cynical but.............

1) I think that the government can only do more harm than good here. Prices simply have to adjust and investors have to know that the government won't come in and change the terms after the fact. The good investors know that they screwed up buying mortgage debt at the top of the bubble. They won't come back until the dust has settled.

2) I could have told Ms. Bair this would happen.

3) Its the best of both worlds. The government gets its bonus points for having appeared to try to fix it. The government ultimately won't have meddled where it doesn't belong. They only have to keep up the farce for another few months because by September the election will already have been decided. Only a few more homeowners would be saved or foreclosed.
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