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2010-10-15 Economy

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Posted by tipper 2010-10-15 07:45|| || Front Page|| [3 views ] Top

#1 Theoretically, the Ratigans are right, the TARP funds and the bailout supposedly made the banks well over all of the non performing loans.

Since the banks bundled bad loans with good loans to get the bad ones off the books with their mortgage backed securities, and the Feds bought up the bundles, the banks were made whole by the bail out.

Instead of seizing property and depressing real estate values even further thus making even more mortgages upside down with real estate values, perhaps the banks could show some understanding of basic macroeconomics and sit down with people out of work and sign some kind of conditional promissory note that would carry the families over until they could begin paying again...essentially adding the arears on to the end of the loan and extending the term. This would do a lot toward repairing the lost good will of the banking industry and allow people to have some margin of self respect left.

Heck after the election, there is going to be a lot of money pouring into the market and we could see a kick start to the economy. That could change the whole dynamic.

I don't understand why the banks are in such a rush to foreclose on people, unless they are trying to get it done before the foreclosure reform bill is finally unwound from Bambi's clutches and recrafted and passes.

Posted by James Carville/Karl Rove 2010-10-15 10:42|| 2010-10-15 10:42|| Front Page Top

#2 I wonder the same thing dude. Thats a darn fine idea.

Posted by newc 2010-10-15 12:18|| 2010-10-15 12:18|| Front Page Top

#3 after the election, there is going to be a lot of money pouring into the market and we could see a kick start to the economy

Or maybe not.

Posted by Pappy 2010-10-15 16:39|| 2010-10-15 16:39|| Front Page Top

#4 If you felt absolutely certain a republican victory would turn around the markets, you could put your money in them now and clean up after the election.

Chances are any _likely_ benign effects of a republican victory are already factored into current market levels.

Posted by Thing From Snowy Mountain 2010-10-15 18:08|| 2010-10-15 18:08|| Front Page Top

#5 I think that market idea is a couple months late; but maybe not. Personally I find the market(s)...unpredictable around election times.

If I were running a bank, especially a small to medium size, I would be trying to wrap up any loose properties before foreclosures by practicle purpose against the law.

Posted by swksvolFF 2010-10-15 19:21|| 2010-10-15 19:21|| Front Page Top

#6 Foreclose and sell before you foreclose and cannot.

Posted by Bright Pebbles 2010-10-15 19:52|| 2010-10-15 19:52|| Front Page Top

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