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Old 09-30-2008, 11:59 AM
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Default What is the percentage of home owners who

defaulted or are at high risk of defaulting on a mortgage? Judy I so hope you read this. The pail out is not about rescuing homeowners, but saving banks. The mortages are supposed to be bought up so that banks stop failing. There may be a little more effort to avoid forclosures, but for the most part the government will end up owning a bunch of houses.The big deal is that if the banks go broke, they have no money to loan to business. Whend there is no operating capital for the company's that we work for. I think you should be able to see where this is leading. The bail out will probably cost us all a little bit, but in the end the property the government will be holding should be sellable again in a few years. With greater oversight, and better judgment, our future may be OK, but there ARE other problems in the economy. I am quite surprised that you could have the facts and figures on the topic and not get how critical the bailout is. Not to be insulting you, but I think there has been a media breakdown somewhere.
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