A homeowner bailout would make the value of existing mortgages more certain.
The "value" of the existing mortgages is already known. It's the value of the mortgage-backed securities that's at issue. Of course, if you can guarantee there'll be no defaults, you can probably guarantee the total value of the mortgage-backed securities too, but the scope for abuse there is mind-boggling.
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momijizukamori
no subject
Date: 2008-09-22 15:47 (UTC)The "value" of the existing mortgages is already known. It's the value of the mortgage-backed securities that's at issue. Of course, if you can guarantee there'll be no defaults, you can probably guarantee the total value of the mortgage-backed securities too, but the scope for abuse there is mind-boggling.