http://www.financialsense.com/fsu/editorials/schiff/2007/1206.html
A conservative financial analysis that the 'save the subs' plan is designed
to make the hole even deeper.
I'm surprised it got past the lenders who hold the mortgages. Though since
it is such a complete mess no one knows who supposedly holds what may have
been the reason.
And my other suspected reason is the investment banks at some point will
want to be bailed out themselves and for that we are talking real money. So
they will let this plan play out or flounder before they ask for their
share. Or said another way..."Look what the scum got where is ours?"
This is also the 'plan' which was given as a radio pitch by the president
who included the 800 number for people to call.
The number actually was for a Christian college in Texas.
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