I have to remember about the noise in this market

So.... The market is indecisive... Which Bites, cause it just acts crazy.

So... if the gov forces the ARMs not to adjust, doesn't that mean the CDO's get written down even more...

The ARM CDO's which were going to pay 9%, are now going to stay at 5%.... Nice for the Government to make them even less liquid.... and worth less.
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so your mortgage was calculated for 30 years with the resets... now, since now your not paying on the equity for another 5 years... 40 years?

this is like the gift that keeps on giving.

I say the governments Seizes Citi, Countrywide, Morgan... and the rating agencies, hmmm sells them off to the highest bidder, and uses that money to pay off the mortgages.

It's times like these that I feel like I give the market credit for being just a little smarter than it is.... Of course there are those periods of denial.