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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Lizzie Tudor who wrote (138383)9/23/2008 10:31:00 PM
From: Kevin Rose1 Recommendation  Read Replies (1) of 173976
 
The 'paper', representing bundles of these mortgages, is worthless only because of the current crisis. The crisis in confidence has dried up the pool of potential buyers, more so than the actual declining value of these bundles. So, if the government does reach consensus on a bailout that makes sense - and restores the oversight taken away by the conservative philosophy of 'free markets' - these bundles will gain some value because there is a buyer. Once that market is stabilized, the thinking goes, people start to see that there really is value in these bundles - at some pennies on the dollar, to be sure, but value nonetheless.
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