Milstein wants to socialize private risk by converting these subprime and non-conforming mortgage bonds into taxpayer-guaranteed bonds. You see, we already have the system Milstein proposes. It’s called Fannie Mae and Freddie Mac. Now, these scared and screwed financiers want to extend that to cover all their bad subprime and other non-conforming mortgage bets not already guaranteed by the government. Sure…. people should just perpetuate this credit bubble longer and carry life-time mortgages and become life-time debt slaves, so long as it saves the banks. If you didn’t a buy house, dudn’t matter because you’re paying taxes to guarantee principal on someone else’s house so that bond investors don’t get screwed.
Arraya this is the sort of socialization that is a hell of alot closer then anyone cares to admit.
If people don’t think that the good old boys in the back rooms of Wall St and our government weren’t thinking of ideas like this as the ultimate way out once they knew the bubble was out of control, then I have some swampland in Florida for you all…
Actually I thought a program like this would not be instilled until Hillary takes office but perhaps it will happen sooner so Bush can take credit for it.
Arraya this is the sort of socialization that is a hell of alot closer then anyone cares to admit.
If people don’t think that the good old boys in the back rooms of Wall St and our government weren’t thinking of ideas like this as the ultimate way out once they knew the bubble was out of control, then I have some swampland in Florida for you all…
Actually I thought a program like this would not be instilled until Hillary takes office but perhaps it will happen sooner so Bush can take credit for it.
Arraya this is the sort of socialization that is a hell of alot closer then anyone cares to admit.
If people don’t think that the good old boys in the back rooms of Wall St and our government weren’t thinking of ideas like this as the ultimate way out once they knew the bubble was out of control, then I have some swampland in Florida for you all…
Actually I thought a program like this would not be instilled until Hillary takes office but perhaps it will happen sooner so Bush can take credit for it.
Arraya this is the sort of socialization that is a hell of alot closer then anyone cares to admit.
If people don’t think that the good old boys in the back rooms of Wall St and our government weren’t thinking of ideas like this as the ultimate way out once they knew the bubble was out of control, then I have some swampland in Florida for you all…
Actually I thought a program like this would not be instilled until Hillary takes office but perhaps it will happen sooner so Bush can take credit for it.
Arraya this is the sort of socialization that is a hell of alot closer then anyone cares to admit.
If people don’t think that the good old boys in the back rooms of Wall St and our government weren’t thinking of ideas like this as the ultimate way out once they knew the bubble was out of control, then I have some swampland in Florida for you all…
Actually I thought a program like this would not be instilled until Hillary takes office but perhaps it will happen sooner so Bush can take credit for it.
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