Lets check in with our congress shall we?

[Deal Hunter]

Ah, there’s the rub. There’s no such thing as a free market. There hasn’t been in this country since the creation of the Federal Reserve. Why is it that when the government does a stimulus it is socialism countering captialism, but when the Fed lowers the rate it’s OK?

Not allowing markets to correct on their own is counter to capitalism whether it’s done by congress or the Fed lowering rates. You see, there’s no difference to me whether over leveraged homeowners are allowed to stay in their homes – the asset itself has lowered in value, so what is truly being lost is potential interest profit to the bank and equity wealth to the homeowner. The parallel with an individual homeowner is exactly that to the simultaneous fiscal and monetary stimulus done on the large scale. Both are “phantom” wealth/debt that when eliminated translates directly into cash MOVING hands.

Finally, you really hit the nail on the head about why the market cannot be allowed to act freely now. Too many pensions, 401ks and trillions in paper assets are tied up in the shadow banking system. And make no mistake, I am far more cynical than you about all of this.

[bsrsharma]

wealth transfer to existing homeowners (through forgiven debt) will be close to that $1 trillion

Does anyone else see the irony that it may happen on Dubya's watch? Largest transfer payments from rich to not-so-rich under an administration that is decidedly fat cat friendly!

[bsrsharma]

wealth transfer to existing homeowners (through forgiven debt) will be close to that $1 trillion

Does anyone else see the irony that it may happen on Dubya's watch? Largest transfer payments from rich to not-so-rich under an administration that is decidedly fat cat friendly!

[bsrsharma]

wealth transfer to existing homeowners (through forgiven debt) will be close to that $1 trillion

Does anyone else see the irony that it may happen on Dubya's watch? Largest transfer payments from rich to not-so-rich under an administration that is decidedly fat cat friendly!

[bsrsharma]

wealth transfer to existing homeowners (through forgiven debt) will be close to that $1 trillion

Does anyone else see the irony that it may happen on Dubya's watch? Largest transfer payments from rich to not-so-rich under an administration that is decidedly fat cat friendly!

[bsrsharma]

wealth transfer to existing homeowners (through forgiven debt) will be close to that $1 trillion

Does anyone else see the irony that it may happen on Dubya's watch? Largest transfer payments from rich to not-so-rich under an administration that is decidedly fat cat friendly!

[DoJC]

…allow judges to cut interest rates and reduce what’s owed on troubled borrowers’ mortgages.”

Wow, let’s take the banks and borrowers out of the equation and let judges step in and bail someone out of a situation they never should have been involved in in the first place. Man, what’s next? Can I find a sympathetic judge to make my payments for me too?

– Doug

[DoJC]

…allow judges to cut interest rates and reduce what’s owed on troubled borrowers’ mortgages.”

Wow, let’s take the banks and borrowers out of the equation and let judges step in and bail someone out of a situation they never should have been involved in in the first place. Man, what’s next? Can I find a sympathetic judge to make my payments for me too?

– Doug

[DoJC]

…allow judges to cut interest rates and reduce what’s owed on troubled borrowers’ mortgages.”

Wow, let’s take the banks and borrowers out of the equation and let judges step in and bail someone out of a situation they never should have been involved in in the first place. Man, what’s next? Can I find a sympathetic judge to make my payments for me too?

– Doug

[DoJC]

…allow judges to cut interest rates and reduce what’s owed on troubled borrowers’ mortgages.”

Wow, let’s take the banks and borrowers out of the equation and let judges step in and bail someone out of a situation they never should have been involved in in the first place. Man, what’s next? Can I find a sympathetic judge to make my payments for me too?

– Doug

[DoJC]

…allow judges to cut interest rates and reduce what’s owed on troubled borrowers’ mortgages.”

Wow, let’s take the banks and borrowers out of the equation and let judges step in and bail someone out of a situation they never should have been involved in in the first place. Man, what’s next? Can I find a sympathetic judge to make my payments for me too?

– Doug

[SD Realtor]

Sorry bsr but this has nothing to do with dubya…

Dealhunter good counter… I have alot to come back atya with but gotta run to my day job.

SD Realtor

[SD Realtor]

Sorry bsr but this has nothing to do with dubya…

Dealhunter good counter… I have alot to come back atya with but gotta run to my day job.

SD Realtor

[SD Realtor]

Sorry bsr but this has nothing to do with dubya…

Dealhunter good counter… I have alot to come back atya with but gotta run to my day job.

SD Realtor

[SD Realtor]

Sorry bsr but this has nothing to do with dubya…

Dealhunter good counter… I have alot to come back atya with but gotta run to my day job.

SD Realtor

[Author]

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