After the hype of a
Out of the
How does that fit with the fine print, which says that banks can whittle that
It turns out 68 percent of the
In effect, 40.8 percent of the original
Who gets the money? That's simple. Federal and state governments are the ones who come away with cash.
But looking back at the original press release, the
Where is the argument?
Fans of the settlement, such as
One estimate, however, by
The reason, Zandi said, is that few homeowners will qualify, because their situation is so dire, so hopeless, that even principle reduction will do little more than buy some time.
"I'm beginning to wonder if you're going to find enough homeowners where principal reduction works in a meaningful way," he said.
Why is this? The answer is extraordinarily simple. The S&P/Case-Shiller Home Price Index released Tuesday said prices on its 20-city index fell 3.8 percent in January compared to
That's it in the a proverbial nutshell. There is no
The settlement is not a drop in a bucket. It's a drop in a washtub.
In international markets Wednesday, the
The S&P/ASX 200 in
In midday trading in
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