Homestead mailing list

[Don Bowen KI6DIU <don.bowen AT earthlink.net>]

At 9/26/2007, you wrote:
> I keep hearing cries for the government to do something to bail out the
> hundreds of thousands that have home loans they can't pay,

That would bail out the banks and other institutions that made the bad 
loans in the first place but mostly the banks.  They are the only ones who 
have access to the Fed Funds and they in turn lend it to other companies at 
what ever rate the other company is willing to pay.  How much did 
Countrywide recently borrow from the banks?

The future is looking less and less rosy but we are being told only about 
the rosy stock market climb as the dollar continues its free fall and food 
commodities continue to climb.  Wheat is over $9 today and the dollar is 
finding new lows against the euro.

Then there is this:
http://mortgage.freedomblogging.com/wp-content/blogs.dir/97/files//2007/09/updated-reset-chart-larger.jpg

Bank of America loan reset chart.  The real problems come next spring.

Don Bowen              Awl Knotted Up                       KI6DIU
http://www.braingarage.com