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The "cramdown" using a Mallet when you could use a eather"

January 22, 2009

Analysis of:Citigroup, Senators in Talks to Let Judges Modify Mortgages | online.wsj.com

The perceived "evil cramdown" now makes a comeback, this time as a tool that banks are reconsidering. After years of fighting with the Bankrutpcy Courts as an unfair advantage granted to the borrower, and convincing the legislature to abolish the "cram down" provision in the Bankrupty Code, the Lenders are now seeking the Courts assistance in reinstating the "cram down" provisions of the Bankrutpy Act. Why the 360? What can be the benefits of the court forced action? First you have to understand what is a "cram down".

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