In today's commentary in WSJ, Countrywide Financial Corp CEO Angelo Mozilo is now begging to raise Fannie and Freddie loan limits to $625,000.
First give out bad loans, then sell all your stock holdings, then borrow from FHLB's like there is no tom morrow. Then dump the current junk onto the GSEs.
We have a current mess in housing because loans were given to people who could not afford them. Raising the limit is just going to make things worse.
Even if they raised the limits, I am not sure that would help right now. Freddie and Fannie seem to have their own capital issues right now. These are the same agencies whose accounting evokes shades of Enron according to Bloomberg's Jonathan Weil.
But that does not matter because let's just dump the junk on tax payers. Let's go further into the black hole by giving out bigger more irresponsible loans.http://online.wsj.com/article/SB119682399988414066.html?mod=todays_us_opinion
1 comment:
Suitable for up to 175 guests, Prestwold has a stunning 18th
Century interior and extensive gardens overlooking the beautiful Midlands countryside.
If you are still unsure of the photographer, you can always
seek referrals by asking friends or family members about their experiences
with photographers used in their weddings. You should usually discuss that with the photographer in advance in order to avoid any surprises, though for the most
part it's easy to predict how much you're going
to have to pay in additional expenses for the services
of a good photographer.
Have a look at my blog :: wedding photography in columbia sc
Post a Comment