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In article ,
| It's not exactly giving the money away, which unfortunately is the
| impression most people have because the media has not done anything to
| explain it. Even Bush didn't do a good job of explaining it. What
| they are going to do is conduct a reverse auction for loans that are
| delinquent, but have not defaulted on.
| True, but buying those loans at a time when the actual value of those
| assets cannot be easily determined seems like throwing money away, and
| without solving the problem, to me. Then consider that wolf Paulson
| would be guarding the chicken coop...
| Would you buy one of those loans with your own money? For how much?
If it were the loan on my own house and I could sell (or possibly
refinance) the house for less than what I would have to pay for the
loan I might. In order for the bail out to actually help the banks
is the price going to have to be higher than that? I find it a
little confusing because people talk about "pennies on the dollar"
but it isn't clear that I can buy real estate for pennies on the
dollar compared to a year or so ago (unless we are talking about
maybe fifty pennies). Or is the problem that real estate isn't
moving at all because the prices haven't come down?
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