If we wanted a Republican, don’t you think we would have voted for one?
As Atrios says, we are so screwed.
Related Posts:
- Does SCOTUS EPA Case Impact Net Neutrality? Here’s Why I Say No. by Harold July 1, 2022 For most people, the Supreme Court’s decision in West Virginia v. Environmental Protection Agency was about environmental policy and what the Environmental Protection Agency can…
- My Insanely Long Field Guide to the Fox29 Philadelphia (WTFX-TV) License Renewal Challenge. by Harold August 29, 2023 In July, the Media and Democracy Project filed a Petition to Deny the license renewal of Fox29 (WTFX-TV) in Philadelphia. The Petition rests on a…
- Gonzales v. Google Validates My Theory of Legislative Drafting -- Be Really, Really Detailed and Longwinded. by Harold February 15, 2023 Every now and then, I do some legislative drafting. I tend to get pushback on my habit of including a bunch of legislative findings and…
- Quick Update on Fox29 License Challenge License Renewal Challenge. by Harold October 5, 2023 Two developments happened since I posted my Insanely Long Field Guide to the Fox29 license renewal challenge that potentially bear on the challenge. The first…
- Why Canada's C-18 Isn't Working Out As Expected. by Harold July 24, 2023 Back at the end of June, Canada passed C-18, aka "The Online News Act," a law designed to make Google and Facebook negotiate with news…
- S. Korea "Sender Pays" Is a Warning, Not a Model, or Why (Almost) Everyone Keeps Telling the EU This Is a VERY Bad Idea. by Harold October 14, 2022 Economist/NYT opinion writer Paul Krugman coined the term "Zombie idea" to describe an idea that, despite being repeatedly refuted with evidence, keeps coming back. Not…
Well I have a better one for you.
If you have a mortgage that was created in the last 7-8 years your note maybe part of a toxic asset pool even though you pay it timely. Such is the nature of secularized mortgage instruments.
So the deal is to offer xx¢ on the dollar for essentially your mortgage to investors. Lets say its 60c/$1. So a guy like Buffet comes in and buys up these assets and hopes for maybe 75c/$1 return.
My question is if somebody like Buffet can come in and untangle the mess. Then why can’t a Trust Public Corp do the same? Then turn around to the original mortgage holders and offer 75c/$1 for them to refinance their home at a lower capital basis. It lowers the cost to the homeowner, it bails out the banks somewhat so their balance sheet improves. The security holders other than say the AA tranch was never going to be made whole anyway.
2 out of 3 winners ain’t a bad deal.