dd wrote: > Not necessarily signing up to Julio's entire plan,
Much better than the endorsement of my plan I'm getting from Obama. > but if the Treasury were to step in and pay the mortgages > of all subprime borrowers, then the bonds would be money-good for the next > ten years, and the resultant > mark-ups (which would be roughly the size of the markdowns already taken) > would go through the P&L account > into shareholders' funds and that would recapitalise the banks (except to the > extent to which they had > sold down the portfolio, which is quite substantial in some cases, in which > case it would be a windfall gain > to the hedge fund industry). And what would the hedge funds do with their windfall gains but plug them back into the banking system, one way or another? _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
