On Tuesday, August 14, 2007 4:01 PM Pete Theisen wrote: >What is he talking about with the term "repos"? Usually this term refers to repossession of a car. >If the poor widow woman and her seven children were living in the car after having been evicted >from their foreclosed home I can see 'ol massa types leaping in undisguised joy but this is >something the government likes to ignore or at least keep secret from the press.
>I see "repos" defined elsewhere on the web as "a form of overnight borrowing" >but if this indeed is what it is I can't see how this is going to do a whole lot of good against >mortgages which typically run for 30 years. It looks like smoke and mirrors to me. From http://www.iht.com/articles/ap/2007/08/10/business/NA-FIN-US-Fed-Mortgag e-Backed-Assets.php: "In a "repo," the Fed buys securities from dealers, who then deposit the money into commercial banks. In a three-day repo, the Fed holds the securities for three days." David L. Crooks _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
