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

To: tejek who wrote (361700)	12/6/2007 7:13:55 PM
From: bentway	Read Replies (3) \| Respond to of 1574591

"So what do you see that was bad?" It was just insubstantial bullshit. The market has HOPE, and it REACTS to bullshit. Tomorrow, after a day to analyze, we'll see more reaction. Ten's right, the government WILL attempt to artificially manipulate and prop up the markets all through 2008. This was part of that. Where he and I part company is how successful they'll be. The Fed has much less control than any time in recent memory. -------------------------------------------------------------- Here's the details we're hearing (from research house Stratfor), more when available. * Mortgage had to be issued between January 2005 and July 2007 * ARM must reset January 2008 to July 2010 * You must not have more than 3% equity in your home (what? are you fcking kidding me? if you put money down you're fcked!) * Home must be worth more than the mortgage (ha ha ha ha ha!!!!) * You must have income (i.e. sorry realtors and Casey Serin) * You must prove that you can make the payments * You must not be more than 60 days past due * Program is voluntary with the lenders - government has no authority or legal status