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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: ChanceIs who wrote (113331)	11/11/2008 10:13:50 PM
From: energyplay	Read Replies (2) of 206138

You should console yourself with the fact that the proposed Fannie/Freddie deal has been characterized as a "teaser loan" by some people on CNBC. None of the principal will be forgiven. Loans may be extended for as long as 40 years. Principal that is not paid down can become a ballon payment. Interest rates will be lowered temporarily, but can rise later. The object is to keep homes off the market by helping the "owners" with their short term cash flow by reducing payments to 38% of gross income. Some of the comments from Larry Kudlow and others - "This is exactly how we got into this mess !" "This will just postpone the day of reckoning" ******************* In a few years, drilling rigs will be able to pay for a bunch of granite counter tops...

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