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Loan Modification
: Mortgage Lender Implode-o-MeterGSE Support But No Guarantee: Treasury is Prepared to Flee at Xmas ?12 B
By Implode-Explode Heavy Industries
Today's comedy has had the side effect of smoking out one of Treasury's key contingencies. By steadfastly avoiding any mention of support for Agency Debt itself and only stressing their time-limited support for the Enterprises, Geithner's crew is signaling that they have created an option to GSE-ize agencies down the road.
Timmy is anticipating the action of just walking away from this whole mess exactly 6 weeks after the next presidential election. You have been warned.
Full post as published by Mortgage Lender Implode-o-Meter on March 07, 2010 (boomark / email).
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