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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chas. who wrote (102231)	9/20/2009 6:37:21 AM
From: Elroy Jetson	7 Recommendations Respond to of 116555

Hawkmoon's many circular posts have been quite to what point? His socialist scheme of appointing a government czar to prevent banks from selling foreclosed homes in an expedited manner, in a hopeless attempt to prop up home prices, is foolish and doomed to failure. Banks have previously tried holding back on selling their foreclosures "until prices recover" in previous real estate recessions. Many of the banks attempting this scheme had to be taken over by the FDIC. These banks merely ended up with larger losses for their trouble. There is no magic scheme which can save heavily indebted people like himself from their own folly. .