Chris Banescu Blog | Chris Banescu | Sep. 30, 2008
I have just sent this appeal to my representatives in Washington. Feel free to copy and paste and send to your representatives.
Please do NOT support the $700 Billion Bailout Plan until the Banks and the Lending institutions indentify the Toxic Loans and DE-BUNDLE them.
It would take very little effort on their part to identify each loan based on a computer search of their existing loans:
1. Full Default = no payments in 3+ months (Toxic)
2. Partial Default = no payments in 1-3 months (Potential Toxic)
3. Good Standing = on-time payments
Then the Government can:
. . . more