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2008-09-30 Home Front Economy

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Posted by tu3031 2008-09-30 10:52|| || Front Page|| [5 views ] Top

#1 This is nuts...

In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

Posted by tu3031 2008-09-30 11:07|| 2008-09-30 11:07|| Front Page Top

#2 How many houses out there are really in or about to go into default? Is this number known? How much are they worth? Housing (Fannie and Freddie) is where all this stuff started.

If this isn't known, it is just fuzzy math from fuzzy heads in D.C.

Posted by JohnQC 2008-09-30 13:48|| 2008-09-30 13:48|| Front Page Top

#3 How much are they worth?

Worth isn't intrinsic. It's what people are willing to pay for them, which is very much a function of what credit is available, how well employers are doing etc.

Posted by lotp 2008-09-30 13:59|| 2008-09-30 13:59|| Front Page Top

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