The acronym for Homesave Advance is "Ha" ?!! A laugh in the face of reality?
Yes... shivers... the worse is yet to come...
Time does not heal all wounds the way we 'think' it will. Having expended $453mm to catch up-to-current 71,000 mortgages, the only thing the disclosure showed was that the $453m was 'spent & non-recoverable' even at 1.7 cents on the dollar.
What it DID do, however, was keep $2.4 billion worth of loans lookin' like Ms. Lilly's BEST DAY! This is like the best red-headed tom-foolery in the saloon!
Buying time has done nothing. They had better worry about the upcome 8 months....
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