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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (9477)	5/6/2008 9:50:37 AM
From: jim_p	Read Replies (2) \| Respond to of 50297

While the Benny and Hank feel the solution to the housing problem is to encourage lenders to work with their borrowers and or reduce the principle amount, the banks are doing just the opposite (wink wink). In talking with a local Wells Fargo President, they claim it would be insane to postpone a foreclosure in a market where prices are falling. That would only increase their losses down the road. They feel it's better to minimize their losses and recognize them now vs. postponing them and risking them being a lot larger down the road. While the lenders may be saying they plan to work with the borrowers, they plan to do just the opposite. So much for a voluntary BS government solution to the housing problem. Jim

To: SliderOnTheBlack who wrote (9477)	5/6/2008 10:45:46 PM
From: Fiscally Conservative	Read Replies (2) \| Respond to of 50297

You said: "They're doing a good job fudging the job numbers, and the street is buying it, but I don't think they'll have as easy a time fudging the housing numbers." Is it really that the street is buying the story or merely buying the market knowing full well the game the Fed and Co are playing. No one wants to be the last fund manager having to turn out the lights but at the same time who wants to be the one leaving when the Party is still in swing mode and the band is playing.