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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: energyplay who wrote (113343)11/11/2008 10:35:22 PM
From: ChanceIs  Read Replies (2) of 206141
 
>>>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.<<<

That statement (while accurately reflecting the government line) is pablum for the semi educated masses. I called my congressman's office to complain a month ago, and spoke to an aid for about 15 minutes. I asked embarrassing questions like:

1) If the government exposes me to risk, and manages merely to get the principal back, have I really gotten the principal back?? What was I paid for the risk???

2) I am sure that before you committed to spending $750 bi$$ion you examined at least five other investment alternatives. What were they and what was the internal rate of return?? Sure it would be bad for housing to tank further, but would we want to make matters worse by selecting the poorest return project at which to throw our money???

At that point I started getting canned politico speak in return. I guess I sensed that the conversation wouldn't go much further. I did suggest that the government should pick a nice round number - say 500 - of mid/senior level Wall Street managers to incarcerate. I think that played well.
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