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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (95869)	7/27/2008 12:17:03 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 110194

I wonder if the whole thing (the 15% cramdown to the mortgage holders) is even legal...is there a constitutional challenge here? I suspect there will be court challenges on several sides which could slow down implementation severely, but we'll see......

To: carranza2 who wrote (95869)	7/27/2008 9:24:50 PM
From: TH	Read Replies (2) \| Respond to of 110194

Hello carranza2, I attempted to read the bill and try to determine the mechanism. Unfortunately I'm short on time at the present. Here is the summary, but as expected, there is little detail. banking.senate.gov Here is the bill, in all it's 537 pages of pork-laden glory. banking.senate.gov NPR tried to help, so they have a short summary. npr.org From the NPR summary, this makes me laugh. <Count any federal infusion for the mortgage giants under the debt limit, essentially capping how much the government could spend to stabilize the companies without further approval from Congress. As of Tuesday, the national debt that counts toward the limit stood at about $9.5 trillion, roughly $360 billion below the statutory ceiling.> As if a debt ceiling ever prevented clowngress from spending a dime they didn't have. My best guess on circumventing giving the Feds their rightful cut <for such a share of profit is paramount in a capitalist structure LOL>, would be simply to game the realized gain. To rant, Dodd makes me want to vomit. What a showpony. GT TH