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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: JohnM who wrote (56381)	3/27/2008 12:08:27 PM
From: NAG1	Read Replies (1) \| Respond to of 544999

John, I may be wrong about this but I am thinking that the republicans proposed this penalty well before the voting took place. Neal

To: JohnM who wrote (56381)	3/27/2008 12:15:57 PM
From: Katelew	Read Replies (1) \| Respond to of 544999

John, I think it was you that asked how Hillary's bail out proposal was different than the Frank/Dodd one. The WSJ had a interview with her (too long to post here). Basically, she said her plan would build onto theirs by adding the resurrection of something the govt. did during the depression when it created an agency to buy up loans that had been foreclosed on. Rather than create a new agency, she would fund the FHA to do this. I didn't read it carefully because I don't see anything like this coming to pass. What most impressed me was that her idea also involved some kind of auction process out of which might come some market valuations. She correctly recognized that the markets are frozen by their inability to find clearing prices for many of these financial instruments (derivatives) that are tied to the mortgage market. It was just one more indication to me of how deep her understanding goes of a complex issue, because she said this in an interview not in a prepared speech written by a handler.