Not Ranked
Inflation is not the issue right now.
Countrywide is almost to the point of demanding the FED lower rates "to avoid a recession" s they say. I say BS they want to lower the rates so they can pad their pockets more and sell off some of the non-performing assets.
I say the day that Countrywide files for bankruptcy the Fed should then consider a rate decrease to help get the existing foreclosures off of the market.
Look folks it was creative thinking that got them into the mess they are in, let them be like any other business and use creative thinking to get out of it. I do not think the Fed should bail them out. They have put the screws to hundreds of thousands of people, let them reap what they have sewn.
|