The stock market is telling me the toxic mortages MUST have a principle write down in order to reflect the REAL value of the property.
Obama’s announced mortgage “plan” (sarcastic quotes intentional) is a joke in that it intends to preserve the inflated fraud values.
The obama mortgage rescue is a sham and obama’s handlers KNOW IT. There is no mortgage help. Obama is oblivious to reality and the market is voting with lack of investment.
The GOP better get a clue FAST.
These young punks who pushed obama will not have a job and insane amounts of student loans. GOP, RNC or just plain stupid party leaders better wake up and push the inroads.
Not likely - tweedle dee(D) & tweedle dumb(R)
And it must, because the securitized instruments based on those fraudulent values and given AAA ratings by the agencies were sold to every 401K manager, pension fund, and foreign government on the planet. Admit once and for all that those instruments aren't real (which must happen for any genuine recovery to take place) and the result will be the sort of financial dislocation that starts world wars.
It isn't a stretch to assert that the US Government, the money center and investment banks, and the ratings agencies conspired to lie to the entire world in order to stage an unusually fast and false "recovery" from the Dot Com crash. Now they have to back those lies up with hard cash - and the only place to get it is from US taxpayers. The Obamoids are hoping that voters at the low end might not notice a small bump in their income tax bill, but fear they sure as hell will notice if their 401K balance drops 70% - permanently.