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TALF spelled backwards is pronounced FALT!

March 26, 2009

Analysis of:So much for capitalism | www.economist.com

$160 million bonus for the department that caused the emergency? Really?What does that say about the American system? the system that’s fundamentally flawed. AIG…bailoutswith all in constant flux. That’s Just A Distraction Bailoutsstimulus…TALF. They’re all distractions from the problem; Housing. massive changes since 2007 gone are Indymac, Countrywide and WaMu. no matter how many fires, we can’t lose sight of housing. That’s much of crisis’ investments. housing is where we’ll be looking for signs of recovery. various American mortgages will be resetting from “teaser” rates, and into long-term rate to carry throughout the lifetime mortgage. This is all the fuss. we’re actually winding down on the bulk of subprime first-resets. At the moment as far as housing’s concerned we arein the eye of the storm. the next time you see an uptick in the stock market… the success of bailouts, remember there’s more, bad mortgage paper. This isn’t over no matter hat Bernanke might’ve told you.

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