Sunday, February 01, 2009

Loan Modification vs Foreclosure

Here is a reasonable look at the financial crisis at ground level.

I've been saying the same thing as it relates to the banks and auto companies. Let them fail. The result will be painful, very painful - for the short term. But for the long term the fittest companies will survive. Once we've shed the junk, restructured the rest we can move forward, much sooner.

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