Back in the day --
2007 to 8 -- the real estate fantasy began it’s spectacular
crumble. Banks repossessed homes of
people who could not make the mortage payments.
Soon, many banks found themselves holding large numbers of
houses. Soon public radio reports spoke
of foreclosed houses sitting vacant, deteriorating from neglect, and the banks
not quite sure of what to do.
The two wise ones asked yesterday what would have happened
if, instead of foreclosing on the mortgage holder the banks would have made
arrangements for and renegotiated monthly payments and interest rates. Banks would have thereby keep houses occupied
instead of neglected.
Now why didn’t I think of that at the time. Who says I didn’t? I can’t remember.
Aren’t you all proud of me.
I refrained from in inveighing against
bankers. I also did not rant on about
the utterly contemptable bourgeois reactionary
nuts who blamed anybody but the banks and their foolishness.
Yeah TawM!
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