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Pastimes : Discussion Thread
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To: tejek who wrote (3260)3/5/2009 8:20:43 PM
From: TimF  Read Replies (1) of 3816
 
What person and action do you think I'm defending? Its not clear from your post.

What I'm defending is freedom, including free markets. That doesn't imply that I'm defending every thing, or every legal thing, that people in the private sector, do any more than your support of big government means your defending every action every government has ever taken.

In what one company official said was “off-the-charts good” business, PennyMac buys troubled mortgages from the government (which got them from failed banks) at rates like 38 cents on the dollar. Then it offers the beleaguered homeowners a chance to refinance at far more favorable terms. PennyMac makes money, the homeowner gets an affordable mortgage and the government gets a share of the profit.

Seems like a win all the way around.

warnings about “rewarding those who acted irresponsibly” have bogged down a bill that would allow federal judges to reduce mortgage debt as part of a bankruptcy settlement.

And why is that a bad thing, neither your nor Collins makes the case, you just assume it.
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