[PhilosopherStones]

“establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations”

Hmm... Another case where the lack of a comma means something.

Does this mean that the gov’t will purchase the assets and then re-issue bonds based on those assets?

Or does that mean a quid-pro-quo with the banks that in return for purchasing the assets now, the bank must buy them back sometime later?

Enquiring minds want to know.

[goldstategop]

I think if the government buys up all the bad mortgages in the country, it doesn't say how it will unload all that bad debt. What is established is the taxpayers are on the hook.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus