Comments | paradox0220: Interesting number game

paradox0220

Interesting number game

Sep 30, 2008 14:27

"The U.S. mortgage market is estimated at $12 trillion with approximately 9.2% of loans either delinquent or in foreclosure through August 2008 ( Read more... )

Comments 3

goulo September 30 2008, 19:55:34 UTC

I think you're forgetting that a large portion of the bailout needs to be used to richly compensate many executives for their fine hard work.

decibel45 October 2 2008, 15:01:52 UTC

Actually, no... buying the homes outright would be about the worst thing we could do ( ... )

paradox0220 October 2 2008, 16:35:15 UTC

Rereading everything, I don't see an actual suggestion to buy the houses outright. What I was originally pointing out is that the amount of money we are talking about is so huge, that action was possible. I agree that it would be a horrible thing to do but the key is to get the government to really talk about what they are trying to do. My perception at least is that they are trying to play this whole thing off as helping the poor mortgage holders when really the goal is very different.

My take on "the real crisis" is that the US has fundamentally been living beyond its means and that it is catching up with us. Many of our assets are way over valued and a correction has to take place (while our government tries to hold that time off).