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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (360908)	11/30/2007 7:42:49 PM
From: bentway	Respond to of 1578048

U.S. Treasury Secretary Henry Paulson is negotiating an agreement with banks to stem a surge in foreclosures by fixing interest rates on loans to subprime borrowers bloomberg.com The Bushies are trying everything to keep the economy from going into the dumpster pre-election. One proposal is to make the teaser rates that the foreclosed STARTED with permanent, fixed rates so they could stay in their homes and have the banks eat the difference.

To: Tenchusatsu who wrote (360908)	11/30/2007 10:06:17 PM
From: Road Walker	Respond to of 1578048

JF, it is my opinion that we shouldn't do a thing except maybe work on regulations for mortgage trading and coming up with ways to educate borrowers and foil dishonest mortgage brokers. My heart is with you. Every bail-out lowers the risk of risk, and the value of debt. It's just like cutting taxes (or lowering interest rates) in the face of deficits when the economy is a little weak... giving to the short term at the expense of the long term. But this looks like if we take the tough guy approach we may put ourselves in a real pickle. You've probably never been through a severe long recession. It can be brutal. And you are playing at the edge of the abyss.