The most helpful post on the bailout

[icarus]

praetorianguard has a tremendously helpful post on how we got into this mess in the first place.

A number of you have questions about the bailout, the market drop, and what in God’s name mortgages have to do with it.

thatratorpheus has other helpful information here.

Hey, even if I can do nothing but complain to my senators ("get rid of that JPMorgan loophole, now") I feel better if I at least understand the situation.

Comments

[snake-easing.livejournal.com]

Thanks for posting those links. It's at least reassuring to know that the reason I don't know whether the bailout is a good idea or not is because practically everyone's just guessing.

(At least that's what I got from the links. I could easily be wrong.)

[icarusancalion.livejournal.com]

Yes, that's what I got, too. No one knows the real value of those mortgages because no one knows if these people will default. Very likely the property will be worth more than the current market value.