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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (626145)	8/29/2011 12:12:49 PM
From: Tenchusatsu	Read Replies (1) of 1578930

Al, any plan would have to be bought in by the major banks, including BoA. There is little chance that Obama can force them to take an offer they can't refuse. They'll just lobby and kill the plan. I'm not sure what will be offered to the banks, but it needs to be something that will offset the cost and added risk of refinancing homes underwater. I am pretty sure, however, that both the banks and government are doing everything they can to support the housing market and prevent home values from falling further. I don't view that as a good thing since in the long term, the only viable exit strategy would be inflation. Sure, it might save a few people from having to lose their homes to foreclosure. However, many more people, including those who were in no danger of losing their homes, would end up with a great deal on their hands. Refi without having any equity in their home. What a nice giveaway by the government. Tenchusatsu

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