clever and very transparent as you demonstrated just now. Hence, what's the point.
As a tax payer - it is a good way to prevent extra draws on the f&f line of credit. So that is good.
As a voter it lets the politicians do absolutely nothing for another 10 years - so my favorite representative can relax and not take any heat for more draws or for doing nothing. I won't have to vote for a new rep in the next election.
As a stockholder it sucks. Lets f&f net worth drop to zero indefinitely. By the time any housing reform is passed the f&f business will have been given away and they will be without income or value.
But hey 2 out of 3 ain't bad.
The current status is like you have a checking account and always maintain a $10 balance. However the monthly mortgage check you write is $2900. But no problem - you have overdraft protection tied to a home equity line of credit so the checks won't bounce. You even pay the line of credit using the line of credit via overdraft protection. Congress is familiar with this check-kiting scheme.
This proposal is like having that overdraft protection tied to a savings account instead of the line of credit, with the line of credit as a backup in case the savings are not enough.
Market Data 
Markets 
AI
