CoverIsBetter

Options Trader: Tough-Decisions Tuesday

"emergency claptrap" I love that.

But seriously, who signs up for a 100 year loan? That is WAY overestimating the morality and virtue of the typical problem borrower. If people were willing to retrench that far to hold on, we would not be in this mess. Heck, I saw a perfectly healthy educated white couple getting foreclosed out of a tiny Florida ranch house on CNBC. And I am thinking, why are you not at a second job somewhere? Go steal from the register, atleast then we know you aren't lazy.
"If you ain't cheatin' you ain't tryin"

I love the persistence with which you suggest the government get closer to the problem and not just bail out banks, Phil. I only have to wonder just what we do in those "90 days of stopped foreclosure"?Freeze their ARM? You can do that last of those w/o spending any money or hiring anybody. You have a point, that we could evaluate who should get saved or not, but that leads into a real market-skewer of government corruption.

OT: What is going to happen to WaMu? Did you continue to accumulate using the covered call/put strategy?