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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (149392)9/23/2008 2:01:14 PM
From: MulhollandDriveRead Replies (1) of 306849
 
yeah, you're agreeing with paulson that we're at financial defcon1 and if the mother of all bazookas isn't fired we're all dead....

problem is he fired the bazooka repeatedly and it's not quite working out the way he expected...

and when this plan doesn't work, what does he do for an encore....

oh wait.....he'll be gone by then

there are several proposals that have been floated that do not put the taxpayer on the hook (notice paulson already says we are...he doesn't say exactly how, but he believes it)

the very best case scenario in paulson's plan is the taxpayer pays ENOUGH for the illiquid 'assets' to make the banks whole....i happen to believe if he does that, by definition we'll have overpaid and assuming buyers from the private capital markets can be found, we'll be selling those assets at the steep discount the banks refused....otoh and if he buys them at current marks or below, the banks are dead

and btw....

you really need to throw historical default rates out the window....CLEARLY we have experienced a real estate BUBBLE of unprecedented proportions....and also, understand that even now, paulson is not excluding ALL types of debt (student loans, CC defaults, auto loans)....by suggesting such he's implicitly saying that we are headed for massive debt defaults not limited to housing....the treasury will literally have to print

finally starting to hear some reason in the hearings....corker saying that 14 days isn't too much to ask for advise and consent....

so i guess we'll see if it's TEOTFWAWKI...
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