Wednesday, March 30, 2011

Huffington Press article I referenced in class on Tuesday

can be found here.  What intrigues me (and scares me) is the scale of the problem.  For instance, according to the article " the likely cost of reducing mortgage principal for the three million homeowners" who owe more than their house is worth could "cost as much as $135 billion, according to the internal presentation, dated Feb. 14, obtained by The Huffington Post."   That is a lot of money.

5 comments:

  1. What is appalling to me is that anyone let it get that big in the first place and no one did anything.

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  2. That is a lot of money, but its a lot less than what we paid out to the banks that got us into this mess.

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  4. I agree with Richard. However, let's think about the homeowners for a sec. If they or most of them know about this or have foreseen this, why did they maintain their relationships with these so-called firms? In my opinion, I don't think that a large portion of the American population are truly awake or care. If they care, then why did they buy this in the first place? We have to see both sides of the story.

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  5. Hmm. I can't edit my post in Blogger after I post it. It's either double check or delete it.

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