http://www.bloomberg.com/apps/news?pid=20601087&sid=a35xUvirdVv8&refer=home
``Principal reductions that restore some equity for the homeowner may be a relatively more effective means of avoiding delinquency and foreclosure.''
Things must be pretty horrific for him to even suggest such a...
That can work both ways. If those funds start to get redemptions it can exagerrate or even precipitate a downward move.
I like being short EWZ here, its a great way to play a possible downturn in the commodities without getting burned in any individual futures.
RFT I see you all over ET giving lots of advice, that's great. Just wondering how long you have been a professional trade ie made your living from trading? How much did you grow your account by last year?
http://online.wsj.com/article/SB120424677934501611.html?mod=hps_us_whats_news
http://youwalkaway.com/faq.php
Housing bottoming? Not with this type of incentive to walk away from negative equity situations it isn't.
Looks like you were right about the losses being far larger than people were talking about a month ago given the recent UBS paper predicting write downs of $600 Billion. Nevertheless I still think that talk of depression is not indicated. Play the devils's advocate for a minute and think about...