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Reply #6: can we call this a 'plea bargain' [View All]

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Victoras Donating Member (20 posts) Send PM | Profile | Ignore Thu Dec-06-07 08:46 AM
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6.  can we call this a 'plea bargain'
some of the banks & mortagage holders have agreed to the Presidents call for a 5 year
hold on many of those ARMs that are scheduled to soar the repayment rates and make many
households fall in default/foreclosure...

Is this 'voluntary' rescheduling of mortgage payments part of the deal
of not getting prosecuted themselves...for suckering home buyers, then the rest of the
investment community with this toxic investment paper?

~ lets see if the mortgage banks in turn, twist arms at the accounting firms that issued
completely false bond ratings on these varieties of mortgages, bundled as CDOs, SIVs, derivitatives, etc ~ there's more than one more shoe to drop !
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