Interesting comment on bailout plan

[David Farber <dave () farber net>]

Begin forwarded message:

From: "David Boyes" <dboyes () sinenomine net>
Date: September 25, 2008 4:11:44 PM EDT
To: <dave () farber net>
Subject: Interesting comment on bailout plan

For IP if you want.

A comment from a NPR Marketplace article posting this morning:

Bill Devine
From Brooklin, 09/25/2008
If our financial markets are true to form, the instant the bailout  
package is approved, the price for these "toxic" mortgage-backed  
securities will skyrocket. Seems to me one restriction might be to  
establish the maximum purchase price at 110% of their street value on  
Monday, September 22 (or other pre-approval date). That or cap it at  
the book value so we at least get the benefit of the investment banks'  
write-downs.





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