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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (150432)	9/25/2008 6:18:47 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

just a reminder here folks... PLEASE do not lose sight of the fact that the $700B price tag is a 'mark to myth' fantasy quoting KD on his tickerforum: There is $2.5-3 trillion of bad mortgage debt out there on residential paper alone. There is at least that much in CMBS and Credit Card debt. Then we have LBOs, and on and on and on. This is NOT just housing. The credit markets have NOT unlocked even though the claim was that we'd have a PASSED BILL. If the stress was going to be fixed, the market would have unlocked today (you can always lock up again.) It did not. $700 billion is 1/4th to 1/5th - at best - of what is required. We don't have $3-4 trillion, and by the way, there is now an independant estimate on Fannie and Freddie. We were told $300 billion max. The current "best guess" is $1 trillion+......