Dollars and Jens
Saturday, December 08, 2007
The Paulson/Bush plan
The Paulson/Bush mortgage plan being bandied about. It does not involve impairing contracts; it appears in some places to provide reasonable uniform definitions for terms used in securities that do not have clear definitions, and, where many securitization terms are written to require that the servicer preserve certain tax and accounting treatment, to relax the relevant tax and accounting rules so that the terms of the agreement can be met with more flexibility. At least that's how I read this.

Powered by Blogger