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Old 02-25-2009, 11:09 AM
1,989 posts, read 3,847,524 times
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....how will that affect how easy/hard it is to get a mortgage?
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Old 02-26-2009, 06:30 PM
Location: Big skies....woohoo
12,421 posts, read 2,793,165 times
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Well, it wouldn't be ALL banks
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Old 03-01-2009, 05:16 PM
Location: Raleigh
82 posts, read 178,528 times
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it wont get easier, can you say FHA?
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Old 03-03-2009, 03:33 PM
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Hmm... nationalization, or continued propping up of zombie banks and shareholders with taxpayer money under the auspice that the market is "free".

To the anti-nationalization folks I say: The failure of just one large instituion, Lehman Brothers, caused worldwide credit markets to sieze up and almost caused mass layoffs as major corporations and even states could not make payroll obligations (which they do so via short term debt). Now what do you think would happen if the top 4, 10, or 15 were all allowed to fail... as they most assuredly would? Sometimes I wish life were like a choose your own adventure book... where you could check what the outcome of the other choice would be... just so I could say "I told ya so". ;P

This wouldn't be the biggest crisis since the Great Depression, this would be the second Great Depression. Give up the ghost and nationalize the failing banks... it would be far more efficient and faster to do so and re-privatize them in the future than it is to continue to limp them along as zombies.

Considering most mortgages are "conforming mortgages" that end up bought by Fannie and Freddie (government controlled), I doubt the difficulty or availability of a mortgage would change at all. The illusion right now is believing that these banks could survive without government money... as such... what is nationalization other than calling a duck a duck?

Last edited by DvlsAdvc8; 03-03-2009 at 03:41 PM..
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