Banks forced to pay for reductions in loans?
http://online.wsj.com/article/SB10001424052748703…
Pretty insane stuff. Going to be interesting to see how this plays out.
Thoughts?
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Does any one in the government really know how the whole MBS system works? If the government wants to do morgtage write downs then the government should put the money up. But some arbitary number like 20 billion is a total joke there are tens to trillions of dollars out there in the system like a miniscule number like 20 billion is really going to make any difference. Plus how is it fair to give certian people who made mistakes help and not reward those who lived with in their means and are able to pay their mortage.
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