"Our Children and Grandchildren are not merely statistics towards which we can be indifferent" JFK

Monday, March 8, 2010

Mortgage Principal Writedown Won't Save Housing (Diana Olick)

Diana Olick doing what she does best; report accurate data.

Diana was on a role however Maria interrupted her about 36 seconds into the report however it turns out Maria had nothing to offer. It must have been the air blowing in one ear and out the other.

If the banks wrote down the mortgage value to a realistic amount, they would be insolvent.

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