Fear of Clowns

"Faith may be defined briefly as an illogical belief in the occurrence of the improbable."
- H. L. Mencken
gozz@gozz.com

Tuesday, September 16, 2008

How many mortgages does $85 billion make? 

It could buy outright half a million $175K homes. The number of defaulted mortgages $85 billion could have prevented is beyond my guesstimating more accurately than being sure it's at or beyond the metaphor "An ounce of prevention is worth a pound of cure."

Reposting an excerpt from my excerpt from the NYT Editorial Board's editorial yesterday,

Preventing foreclosures is the key to stanching the crisis, but policy makers have been unconscionably slow to address that aspect of the crisis.

Hindsight is a lot better than Dick Cheney's aim.

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