Well I too am totally opposed to any bail outs.
Anyone that proposes one won’t get my vote (like that matters much).
But it makes perfect sense for lenders to delay their reset dates in order to reduce the bleeding they’re currently doing. As I said before there could well be legitimate reasons for the government to be involved with making that happen. We’ll have to wait and see what the details actually are.
“But it makes perfect sense for lenders to delay their reset dates in order to reduce the bleeding they’re currently doing.”
How can they reset rates on loans that they don’t own and have been packaged, sold, and resold.
The holders of these packages will sue the banks out of business.