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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (38258)	8/9/2005 6:46:42 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

I just went in and without revealing a whole lot about myself, asked to understand the mechanics of pay-option ARMs. One of the two gals there was a sweetie, and tried as best she could to explain it, poorly I would say. Then the another young gal came over with "professional airs" to rescue her, and tried to qualify me, and I ended up banging heads with her. She asked why I cared, when I indicated I wasn't a borrower, and I answered point blank, "because I suspect these will play a role in bringing the whole economy down". Then the conversation got interesting, as you can imagine, having observed me even here. They had a poor understanding of the details of how these work, perhaps just the way CFC wants it?