Posted on 01/07/2010 1:08:47 PM PST by C19fan
I found this article on Bloomberg:
http://bloomberg.com/apps/news?pid=20603037&sid=a_Ym1WM6UboU
Part of it mentiones Mark Zandi, owner of Economy.com, who is the Pelosi's and Zero's informal economic advisor proposes a program whereby if a bank cuts the principal balance of an underwater loan the government will cover half the costs of that cramdown. The perfect vehicle to shovel taxpayer money for this bailout would be through Fannie and Freddie. Zandi's proposal would be in the hundreds of billions of dollars perhaps trillions.
http://bloomberg.com/apps/news?pid=20603037&sid=a_Ym1WM6UboU
Thanks for posting. Interesting article. VOODOO economics at its finest.
bookmark.
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