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Seattle Bubble Forum Archive • View topic - Banks/Fed Swing to the Rescue.

Banks/Fed Swing to the Rescue.

Myth propagated by bitter ignorant renters, or statistical reality ignored by real estate professionals?

Moderators: synthetik, The Tim, Lake Hills Renter

Banks/Fed Swing to the Rescue.

Postby rose-colored-coolaid » Mon Dec 03, 2007 3:45 pm

http://money.cnn.com/2007/12/03/real_es ... tm?cnn=yes

Of course, like George of the Jungle, they are not particularly good at swinging or rescuing. The current plan will bailout homeowners who cannot afford* their investment (sic).

* Definition of 'cannot afford' subject to redefinition at any time. Current definition excludes those who are 'not subprime', already in default, hypothetically capable of meeting payments, investors, speculators, or those who cannot actually afford their homes.
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Postby perfectfire » Mon Dec 03, 2007 3:53 pm

I imagine that they will exclude people that lied about their income.
Last edited by perfectfire on Tue Dec 04, 2007 11:47 am, edited 1 time in total.
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Postby CliveL » Mon Dec 03, 2007 5:13 pm

I like the headline of this article - the latter half
Foreclosure rescue: No help for you
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Postby Lake Hills Renter » Mon Dec 03, 2007 6:51 pm

One of the local news stations played a short blurb about how this is going to save the local housnig market. Good to know that's done with!
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Too Little Too Late

Postby SeattleMoose » Mon Dec 03, 2007 7:01 pm

This is sounding more and more likely to be as effective as it would have been to add a few 2x4's in the basement of the World Trade Center towers the morning of 9/11 and then proclaiming...."don't worry we have reinforced the building".
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Postby rose-colored-coolaid » Mon Dec 03, 2007 7:07 pm

rose-colored-coolaid
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Postby SunTzu » Wed Dec 05, 2007 1:22 pm

SunTzu
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And The Verdict Is..

Postby SeattleMoose » Thu Dec 06, 2007 5:53 pm

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Postby acurawsu » Thu Dec 06, 2007 8:55 pm

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