The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Lizzie Tudor who wrote (186030)	2/23/2009 4:43:48 PM
From: ajtj99	Read Replies (1) of 306849

Frankly, its the Obama housing recovery plan that is lame. The markets are working fine with the foreclosures. The Obama plan is a political ploy that serves two purposes - placating 2010 constituents and politicos as well as bailing out the banks by having the government shoulder the write-down. It's a non-starter. They need to deal with re-capitalizing the banks and let the non-performing loans work their way through the system as foreclosures. Liquidating the homes is the only way we're going to get to a bottom. Plugging the dike only forestalls the inevitible burst. They need to AIG the bad large and regional banks, wipe out the common and preferred holders, and hit the bond holds for about a 70-80% loss. After that they can spin them off one by one or do a modified Conrail on them.

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