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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (52530)	3/24/2009 5:46:05 PM
From: koan	Respond to of 149317

Krugman thinks we need to nationalize the banks. Swedish model. So do I. Geithner is using the theory the problem is liquidity, but Gailraith and Krugman are saying it is debt burden and bank losses. So help the middle class mortgage person with his mortgage. Lots of those middle class people need a little better refinancing deal like say bumping refinancing up to 120% of appraisal instead of 105%, good god! When the market turns, a 20% appreciation will be nothing and many middle class people will refinance with a 120% of appraisal i.e. 20% underwater instead of the 5% allowed now and not walk away. And those loans would be a lot less toxic than most of the wall street chit and help both the people and economy big time. Those guys should be able to figure this stuff out!~!