Thursday, December 6, 2007

Rescue Plan Part II

It does look like the administration has come to an agreement with lenders to offer relief to some sub-prime borrowers. It's going to take a while to sort all of this out, and there are going to be a lot of people on the other side of the restrictions who are going to be very unhappy about not getting any relief at all. Of course the mortgage crisis meltdown is becoming a political football in the race to primary elections. Suddenly everyone has a plan. From my perspective, there's still going to be pain for a lot of families. There are some people who argue that the market should just sort itself out, while others argue that the government should get involved and assist in making sure there isn't an economy-wrecking meltdown. I'm waiting to read the fine print on the fix.

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