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  • From: Don Bowen KI6DIU <don.bowen AT earthlink.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] What some of it means
  • Date: Wed, 26 Sep 2007 10:58:14 -0700

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




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