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Radical bailout plan has a jawdropping price tag
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[QUOTE]Originally posted by glassman: [QB] [QUOTE]Originally posted by glassman: [qb] you know what makes me angry? there was a simple way to fix all of this last year without anybody feeling this much pain... i outlined it here, and it involved making anybody who was in mortgage trouble a 7,10, or even 15 year balloon note at a reasonable (5-6.5%) rate. it would have removed the profit from people who bought too much house and allowed a 5-10 year breathing space for the economy to recover enough so that people could have possibly sold their house in a couple of years without a loss... it would have had to been from congress tho, and Congress didn't do a dam thing... [/qb][/QUOTE]well it sounds like the FDIC is finally getting their minds around the idea of balloon notes... instead of 5-15 years tho? they are going to have to go to 40 year notes.. :D how "left" is that PM? :c: [/QB][/QUOTE]
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