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Interesting comment on bailout plan
From: David Farber <dave () farber net>
Date: Thu, 25 Sep 2008 20:19:08 -0400

Begin forwarded message:

From: "David Boyes" <dboyes () sinenomine net>
Date: September 25, 2008 4:11:44 PM EDT
To: <dave () farber net>
Subject: Interesting comment on bailout plan

For IP if you want.

A comment from a NPR Marketplace article posting this morning:

Bill Devine
From Brooklin, 09/25/2008
If our financial markets are true to form, the instant the bailout package is approved, the price for these "toxic" mortgage-backed securities will skyrocket. Seems to me one restriction might be to establish the maximum purchase price at 110% of their street value on Monday, September 22 (or other pre-approval date). That or cap it at the book value so we at least get the benefit of the investment banks' write-downs.

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