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Reply #20: OK, the idiocy of bringing in Greenspan aside... [View All]

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NM Independent

(794 posts) Send PM | Profile | Ignore

Mon Mar-24-08 10:27 AM
Response to Original message

20. OK, the idiocy of bringing in Greenspan aside...

...can someone clear this up for me...

"Clinton, a presidential candidate and senator from New York, said the Federal Housing Administration should "stand ready" to buy, restructure and resell failed mortgages to strengthen the ailing U.S. economy."

Does she want to:
Buy the actual mortgage notes from the bank, make the loans where people can stay in the home, and then sell the loan back to a "trustworthy" bank?

Or...

Buy the homes/loans that have been forclosed to take them off the books of the failing banks, and then resell the homes on the market?

Either I'm tired or it's not quite clear??

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