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Charles Momsen

"Dave" wrote in message
...
On Wed, 24 Sep 2008 13:47:17 -0400, said:

If you're the guy providing money for people to buy houses, that's sure
gonna encourage you to lend more. Gee, you might even charge everybody
higher interest for taking the additional risk that some judge might
steal
some of the money. Ya think?

I'm not at all sure that bankruptcy was what the OP had in mind.

Your interpretation is extremely twisted and dishonest. You sound like
someone connected with banks.

In today's market with securitization, it has little to do with banks.
Most
banks will have long ago sold the paper. That's in fact what my initial
question was intended to highlight, and why I carefully said "the guys
providing money for people to buy houses" instead of "banks." The entity
taking the hit could well be your pension fund, or more likely several
different pension funds, and an insurance company. One of the problems
with
the OP's proposal is that mortgage pools are carved up in pieces these
days
so it's virtually impossible to sit down with a single entity and
negotiate
a modification. That's in part why the Dems want a judge to decide how
much
to steal from those pension funds, (and ultimately their pensioners) etc.
when there's a bankruptcy.

Dave, when the government does it, it's not stealing. It's for the common
good.
Thanks for the explanation.