Which states had the biggest bubble? Which states need the extend-pretend the most?
Clear to me. It doesn’t surprise me one bit they included California.[/quote]
So you think they’re using the colossal paper work screw up as an excuse to keep properties off the market? Interesting. Stupid idea, but it does take some actual planning. I think you give them more credit than they’ve earned. I worked with a lot of distressed asset managers and REO departments last time we went through this. As a whole, they were about as inefficient as I’ve ever seen in business. The RTC was actually better than most commercial lenders, and the steals people got from the RTC are legendary.
The model is entirely different now, yet the mindset doesnt seem to have changed. But you could be right.
