Relevant:
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- Quelle Suprise! Banks Can't Afford Principal Reductions, Even On Seconds
- Vulture investors buy up distressed mortgages
- Pimco, BlackRock Seek to Bar California Mortgage Seizures
- PIMCO, Blackrock, NY Fed Seek to Force BofA to Repurchase $47 Billion in Soured Mortgages; Viral Nonsense on "Show Me the Note" and "ForeclosureGate"
2010-10-19 — zerohedge.com
"As the putback parade gets going, the question is not whether the banks can afford to buy back the mortgages. The question is “Can the Banks Afford the Instantaneous and Guaranteed HIT to CAPITAL?†What investors will lend money to see it instantly evaporate, and how much will they charge for those evaporation services? TARP 3.0 coming to a door step near you!!!"
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