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whidbey
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I have some reservations that anyone can price the MBS regardless of who acts as the sales agent. Shear numbers rule out auctions or negotiated sales at any price. Thus the working capital to buy the mortgages in will not turn over unless buyers want the mortgages (or houses, assuming they can match deeds, notes and mortgages which are often not locatable.
Sep 24 18:28 pm
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All Comments by whidbey »Why The Paulson Plan Won’t Work [View article]
The real problem with the bailout is that buyers have not got the means to buy except under the most outlandish terms of sale. If we let Hank buy the junk and peddle it, we still need to know who can buy? Are we on the hook for financing the buyers too? Have mercy.