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View Diary: Spiegel:"Wall Street's Central Values: Avarice and Greed." The next bailout, Wall Str. vs Main Str. (105 comments)

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  •  To Roadbed Guy -1 in 3 stat is correct (3+ / 0-)
    Recommended by:
    corvo, Sunspots, Words In Action

    Well I wondered why you didn't recommend this diary (as you have recommended my diaries in the past), I think there's a misunderstanding here.

    The British Daily Mail newspaper is quoted in the diary as stating that, a third of homes of mortgages in the U.S. are underwater, of which 9 out of 10 underwater mortgage holders are current on their mortgages.

    The fact that 9 out of 10 underwater mortgage holders are current on their mortgages shows that these mortgage holders are paying for negative equity. This means they're paying for nothing. The point of the diary is this bears corrections. The diary goes on to state, that if the market doesn't provide for a correction and the government only wants to bail out Wall Street and not Main Street, underwater mortgage holders that if underwater mortgage en mass defaulted, the courts could never foreclosure on that many people if everyone stands together.

    sig...You just ran into a hardcore progressive who's just another working stiff with an MBA degree & therefore a vociferous labor union supporter [smile]

    by Democrats Ramshield on Wed Dec 12, 2012 at 07:25:08 AM PST

    [ Parent ]

    •  It's not correct, not at all (1+ / 0-)
      Recommended by:
      bubbanomics

      10.8 million American households are underwater.

      There are a total of 114,761,359 households.

      So the number is 1 in 10.6

      Not 1 in 3.

      No matter what the British Daily Mail might be saying . .. ..

      Sure, there might be the occasion locality (Las Vegas?) where that ratio might be true, but nation-wide it's WAY off.

    •  An argument could be made that 10.8 million (1+ / 0-)
      Recommended by:
      bubbanomics

      is  a shockingly large number.

      I won't dispute that.

      But still, putting the numbers in a "reality-based" context still seems to be worth doing.  Especially from a German perspective (because isn't precision something that your country likes to think they excel at?)

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