If Washington wants to help Wall Street what should be done is to create a 30 year to 50 year bond which would be paid back with interest (say at 6% or more) to the taxpayers but it would be paid by those being bailed out.
The political establishment does not have to saddle the taxpayer (Main Street) with this political, thoughtless financial burden created by Congress. This is the capitalist way of doing things which is what made the United States great.
Allow Fannie Mae and Freddie Mac to re-package their questionable mortgage notes, discount them to what the market will bear, and in return they will get some money for operating expenses. The people buying these re-packaged item(s) will either make a lot of money or lose significantly.....but that is the investors choice.
For complete article see: www.venturacountyretalk.com
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
Post a comment
Temporarily disabled — coming soon!