The Fed now accepting mortgage debt as collateral for loans: Clear Subprime bailout?

It's a payday loan for banks. They will only be able to roll it over every payday for who knows how far into the future. Some workers and people on fixed incomes are in that situation, I was talking to one this morning, he gets his gimp money once a month, pays the payday loan place most of it, collects cans for food for most of the month, can't fix his car, is looking for a rich woman to bail him out...... the banks are like him now......
 
Dude .... you need to move....seriously.



Quote from maxpi:

It's a payday loan for banks. They will only be able to roll it over every payday for who knows how far into the future. Some workers and people on fixed incomes are in that situation, I was talking to one this morning, he gets his gimp money once a month, pays the payday loan place most of it, collects cans for food for most of the month, can't fix his car, is looking for a rich woman to bail him out...... the banks are like him now......
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The banks are slipping again into the close. Skeptics are out today too.

I like the plan and hope it can get some legs with positive newsflows on the Cheney oil trip and the rate cut. Prefer to see the Governors out en masse though. Let the markets see 1 or 2 a day speaking when they check their calendars. And Paulson on TV. Finally, it's long past time for a few of these IB CEO's to speak up - get out in front of the public some more.
 
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