i guess operated off a line of credit..they do come back to reavualate and now they do it on credit cards too. t.and the worst case scenario of only 10.3% unemployement is a gift to them as worst case scenario..i,the tax payer give you money and i expect a real stress test since no one can trust the financials anymore since they dont have to follow basic acccounting rules anymore like the rest of us do....mark to make-believe give me a break
Right, I was thinking mortgages. LOC is reviewed annually.
Financials were the only sector where mark to market had a real impact, so now they perform accounting in the same manner as everyone else. If you believe that they are now cheating then you must also believe that everyone else fudges the books. Believing that, why would you invest at all?
We are where we are today not so much because banks did not pay back their loans but because people did not pay theirs. Polices such as 3% downpayments coupled with low mortgage rates driving up prices.