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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (2741)	8/31/2007 3:07:08 PM
From: The Reaper	Read Replies (3) \| Respond to of 6370

Hey Mid.. am I reading this proposal by Bush right? Is he saying that they are going to fix this mess by allowing lenders to make new loans to people that can't afford their payments now and then let the lenders sell these "restructured" loans to the FHA? Wouldn't these new loans have higher interest rates and hence a higher payment? How are the borrowers going to make the new payments when they can't afford the ones in place now? Why don't they just give each of these lenders some $Billions each as a gift? That's basically what they are doing, they're allowing lenders to sell bad paper to the government for face value.