naked capitalism

Anonymous says:

I was at that session. Great coverage — I’m surprised to not see any comments here.

Your’s (and Tanta’s) analysis is sound. The only thing I would add is the emphasis by Lew that it is ALWAYS better to restructure with a credible borrower than to foreclose, and that the difference between the two options is 30%. That additional factoid makes the securitization of mortgages, and the inherent rigidity in terms of future restructurings, particularly troubling. All the players really are stuck between rocks and hard places. I don’t have a solution, but some smart and/or powerful people will have to think of something.

Anonymous says:

I for one am still surprised at the lack of preparedness of the hole Wall St community in regard to it currant state. Case in point-here are two programs from half way around the world from ABC broadcasting in Australia. That identify and predict the internal fiancé meltdown. One is from as far back as Oct 1994 and the other Sept 2007.

http://www.abc.net.au/4corners/content/2008/20081013_debt/interviews.htm

Both story’s are on on this page.

Now how can everyone be running around in circles calming ignorance?

I think school let out-all the kids went to the corner shop-the shop owner got distracted-and the kids took all the candy and ran out the front door en-mass to the winds-cops get called in and ask who stole the candy-shopkeeper says all of them-cops say well we can’t arrest the hole school now can we-so we will find the worst types and pin the blame on them-cut the limb off to save the body OK-kids from the low income family’s are targeted-historically we know they always cause problems for middle/high income family’s.

Nature always condemns overly specialized/niche species sooner or later. If their environment changes they are the first to suffer/become extinct, where species with less defined traits can over come environmental change via adaptations in successive generations.

dudly