Friday, February 26, 2010

A Bankers Reaction to Obama's Proposal... ban foreclosues on home loans, unless they have been screened and rejected by the government’s Home Affordable Modification Program:
If this comes to reality, Banks that are on the ropes now, with a battered loan book (credit quality), will get absolutely hosed.

What good is having collateral? For that matter, what good is signing a contract?

It's dumbass proposals like these that dim my hopes for the future.

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