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FRED
12-13-07, 05:24 PM
"No taxpayer money," he says. Well, that's interesting. I guess it's a free lunch then to abrogate contracts between debt securities issuers and investors.


Part I
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Part II
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Part III
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bill
12-13-07, 08:09 PM
Why pass laws to immunized service contractors if investors are in agreement to modify “freeze” the notes and work with service contractors as Paulson indicates?
Paulson saying the investors are in agreement and it’s their best interest to freeze the note. I question the validity of this and if it is true then investors are politically being pressured to accept it.
If investors pass up the freeze deal they will eventually end up in the “next new bankruptcy rules” and modified then.
Paulson still has no answer about his GS involvement.

jimmygu3
12-14-07, 12:21 PM
Can somebody explain to me what he means when he says this plan is "voluntary"? Isn't that the case anyway? Anyone can ask their lender to refinance at a better rate.

I smell a rat. Kind of like when Dick Cheney sent us all $300 checks while they cut the wealthiest 1%'s taxes by trillions. What's the rub here?

jk
12-14-07, 01:25 PM
the only people who qualify are upside down on their mortgages. one criteria is that they have no more than 3% equity. based on what valuation? likely based on the original appraisal which supported the issuance of the mortgage. since the home's value has likely dropped at least 5-10% and is likely still dropping, the mortgage is for an amount greater than the value of the house.