phater, had Lockhart here today speaking to us. Nothing much in eliminating any uncertainty as he pretty much stated that things would be discussed next year in his true politician form.
He did comment on the reports out there where 58% of those that have qulified for the restructured mortgages are still defaulting on those loans even at rates as low as 3 1/2%. Basically stated that they needed to dive in deeper into the models and that those had only touched the surface and talked about his concerns for getting private capital back into FNM and FRE.
Lockhart has no clue. He thinks restructuring all delinquent loans is the answer. Give me a break! Does he not read the news? It’s not working! People have to have money to pay back debt even at reduced rates. The real pain will happen when people start loosing their jobs. America is built on financing.
5 comments:
I am a blogging machine!!! I'm actually going to change my post name to "Da Blomeister".
Now - if I could only spell my new name :-)
Da Blogmeister
Jason, I thought you were dead. You don't call a brother back no more?
phater, had Lockhart here today speaking to us. Nothing much in eliminating any uncertainty as he pretty much stated that things would be discussed next year in his true politician form.
He did comment on the reports out there where 58% of those that have qulified for the restructured mortgages are still defaulting on those loans even at rates as low as 3 1/2%. Basically stated that they needed to dive in deeper into the models and that those had only touched the surface and talked about his concerns for getting private capital back into FNM and FRE.
Lockhart has no clue. He thinks restructuring all delinquent loans is the answer. Give me a break! Does he not read the news? It’s not working! People have to have money to pay back debt even at reduced rates. The real pain will happen when people start loosing their jobs. America is built on financing.
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