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Originally Posted by jwkniska
I actually agree with 2 that are normally the hatfields/mccoy's on this.... Trump and Wynn.
If a mortgage institution needs a loan (not a bailout) from the gov't to be liquid, then they should have that right, if they did everything legally..... if and only if, every cent that they make while the loan is out there goes back to the gov't to pay off their debt (with agreed upon interest). If they change their lending practices to only give out viable loans and pay back the loan, then they will become a viable company again.... if not, then they go under.
I think that's a ton better solution than the gov't buying up all the bad paper, which ends up with a bunch of beurocrats/lawyers that have no idea how to run a mortgage/banking company in charge of it.
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Trump and Wynn made peace years ago. Trump was in the process of building a condo across the street from wynn las vegas and wynn actually went to Trump's last wedding.
Trump and Wynn are interesting role models...especially Wynn.