Quote:
Originally Posted by PBzeer
As I browse an increasing number of outlooks about the bailout, from cost, oversight, and political posturing, I'm beginning to wonder if what emerges this week will be far different than what has been proposed. I'm beginning to get the sense that we are at a "Fram Moment". We can take a hit now, or a bigger one later. Because what I'm reading indicates that whatever happens will be a political, not an economic, solution. And that is not good news..
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John, answer this question. How does the financial health of this Nation survive without banks writing mortgages?
That's the one and only problem at the root of all these bailouts. I've explained how the system works. The system is now broken. Let the GSE's fail and that's the end of it... Fini... Nada.
The rest of your post is moot.