[lbo-talk] auto sales crater

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Thu Oct 2 11:14:40 PDT 2008



> Home equity line of credit. Basically, turning the theoretical value
> of
> your home into an ATM machine for instant consumption, which is crazy.

Maybe it's crazy, maybe it's not. Can it be abused? Sure. Should you force people to save? Maybe, in some cases. Net-net, I think the arrival of the HELC has done far more good than bad. If nothing else, it's a more sophisticated tool that has been used by the Big Boys and denied to the average person; opening that up can't be, in one word, 'crazy' ...

/jordan



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