The business community should become a vocal advocate for helping responsible homeowners lower their debt payments, Steve Fischman and David Abromowitz argue.
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Steve and Dave mean to say "good for My business...". If you are the investor, the pension plan, the bank treasury who bought the mortgage backed securities (MBS) that presently contain these mortgages, and who paid a fair price for the value of the interest payments they are obligated to provide...you wont be too happy to lose billions of dollars of value when the MBSes the face values of the MBS securities crash. of course, the public pension funds have full claim on the taxpayers, and the private pension funds have a government insurance agency, both of which likely represent the NEXT major financial collapse. Good for business? Good for whose business? When you get a couple of do-gooders advocating a new government intervention, one thing is sure...the taxpayers are going to get hosed again.,
so very true, good post