Banks Agree to Foreclosure Moratorium

[Will Handley]

Finally some movement to help stem the flow of foreclosures...

http://online.wsj.com/article/SB123454524404184109.html

What say you?

[Jay Markanich]

A market interrupted is a market postponed.  The problem is not fixed.  There is no way an office, or department, or bank officer, or (especially) a bureaucrat can understand or handle things the same way the invisible hand and foot would handle them.  The market always corrects dislocations, usually sooner than later.  It is not without pain!

Of the many mortgages "bailed out" and/or renegotiated, a huge percentage went right back to being the problem they were before the negotiation(s).  Morgan may be trying to buy time, but the problems will surface, now or later...

Morgan knows that...

[John Adrian Sopher]

Yes they do Jay.  Well said. 

My thought is this...  These banks and politicians are showing the allusion of helping.  Its there way of saying they tried to help when everything craps later on.

Everyone must think to them selves...   Hmmm, government is trying to kick start spending by making it easier to get loans.  Hmmmm, isn't too many loans why were in this position in the first place?  Hmmmm, shouldn't we be trying to get out of debt and saving for the future?


Making it easier to spend money isn't the answer in an economy that has a spending problem.  That's like giving an alcoholic, alcohol to sober up!  It ain't gunna work.