The numbers have been all over the web the last 6 months or more. "Unabashed socialism"??? On the contrary, this is capitalism at it's absolute best. Entrepreneurs doing what they have to do to keep the cash flow going without giving away the farm. The people you name have absolutely nothing to do with this. And, more than anything else, this is all about preserving the good faith and confidence foreign investors have in US investments. Without foreign investors this country will dry up and everyone knows it.
Well there are a lot of numbers on how many subprime loans were originated and how many are in trouble and so on but those raw numbers are at one end of the statistical scale and the way they’re bunched up into a mortgage bond is at the other.
I need to see something that tells me how many mortgages of the 1000-mortgage “tranche” called “Investment Vehicle Alpha” that pays X percent would go into default with this plan and without this plan.
I just don’t think that’s even possible for an institution holding “Investment Vehicle Alpha” to figure out what kind of mortgages are in it.