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Tom C. Schock

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Sep 26, 2008
Our best course of action likely would be to handle this debacle as was done with the failed Savings & Loans: Sell the loans for market value and then, due to the implicit guaranty attendant to “Fannie” and “Freddie” securitized loans, have the federal government (in reality, taxpayers) make the mortgage holders whole by covering the shortfall between the amounts owed and the amounts the loans sell for.