09-26-2008, 11:06 AM
Personally, I'm a fan of the following solution:
- Tell Fannie Mae and Freddie Mac to suck it. It was THEIR bad practices that led to their demise. Welcome to the risk of business ownership.
- Tell the people who were lucky enough to have had their loans get gobbled up by F&F "Congratulations - you're done with your mortgage." All of these people have their loans dissolved, which means all of the money they were paying each month on their bank note is now going into their pockets. Some of it (if not most) is then spit out into the economy.
Banks do better business, taxes don't go up, the housing "crisis" (which it isn't - my house is secure, because I didn't buy more house than I could afford) is over, and the markets balance.
- Tell Fannie Mae and Freddie Mac to suck it. It was THEIR bad practices that led to their demise. Welcome to the risk of business ownership.
- Tell the people who were lucky enough to have had their loans get gobbled up by F&F "Congratulations - you're done with your mortgage." All of these people have their loans dissolved, which means all of the money they were paying each month on their bank note is now going into their pockets. Some of it (if not most) is then spit out into the economy.
Banks do better business, taxes don't go up, the housing "crisis" (which it isn't - my house is secure, because I didn't buy more house than I could afford) is over, and the markets balance.