Early Retirement & Financial Independence Community - View Single Post - Do you want to pay for the Sub-Prime freeze?

twaddle · 12-03-2007, 09:39 PM

Frankly, I'm more upset about having to pay for the Bush Wars.

So far, the taxpayer cost of the Paulson proposal is zero. And if implemented well, the costs to the banks and other bag holders could be fairly low too. In many cases, we're simply talking about keeping a high-rate mortgage from reaching astronomical rates. Some of the teaser rates on the 2/28's started at 7%....

I still see this as a Good Thing. We need to see work-outs on a massive scale. The one-at-a-time work-out thing ain't workin' out.

12-03-2007, 09:39 PM	#89
twaddle Thinks s/he gets paid by the post Join Date: Jun 2006 Posts: 1,377	Frankly, I'm more upset about having to pay for the Bush Wars. So far, the taxpayer cost of the Paulson proposal is zero. And if implemented well, the costs to the banks and other bag holders could be fairly low too. In many cases, we're simply talking about keeping a high-rate mortgage from reaching astronomical rates. Some of the teaser rates on the 2/28's started at 7%.... I still see this as a Good Thing. We need to see work-outs on a massive scale. The one-at-a-time work-out thing ain't workin' out.