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So can the banks then go to each state and say "Look, you sort this out in the way we want or no loans for anyone inside your state boundaries. everyone else will be getting them and you'll go down as the guy who turned the local state into a third world  country". Ok there will be a lot more palms to grease and a lot bigger chance of somebody somewhere blowing the whistle on the whole sordid deal but will states be easier to strong arm than the federal government?

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Fri Oct 15th, 2010 at 01:27:25 PM EST
[ Parent ]
One problem with that scenario is that, just now, no one particularly wants any new loans, except for homeowners who are financed at >6% and would like to re-finance at <4%, which seems like burning good money to the banks that hold the existing mortgages. And Wall Street is seriously lacking in local constituencies in the 49 states other than New York.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 15th, 2010 at 02:20:48 PM EST
[ Parent ]
All 50 attorneys general opened investigations together this week.  So there's no gain there.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Sat Oct 16th, 2010 at 08:13:07 AM EST
[ Parent ]

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