Zeev's Turnips Patch-No Politics (ZEEV)

[Bruce A Thompson]

What are you talking about?

A cutoff of 660 effectively eliminates 50% of the market. MtM of 22 cents on the dollar means that nobody can sell anything to anyone except to the government. That means the government is the only mortgage investor out there right now.

Is that the way you want the economy run? Not me.

How can you blame a company for needing new money? 40 years ago, a savings and loan with savers bringing in their passbooks and their $20 weekly deposits needed "new money" to make mortgage loans. If they didn't have the money and needed to finance housing for the employees of a big industry that just moved to town, they could sell out their business to a bigger S&L who did have money. But even the bigger S&L needed new money to grow,