Bill Gross, bond trader at PIMCO, Newport Beach, was criticized last year for arguing that direct government aid for troubled homeowners was a good fix for the housing-driven economic crisis.  Gross said again on March 17, 2008, that the recent rescue attempts by the FED to address liquidity as opposed to home prices is wrong and that two steps need to be taken: (1) the Fed should buy mortgage-backed bonds instead of financing such purchases, which could drive mortgage rates lower, and (2) there should be quick action from the Treasury and government mortgage agencies to support homeowners and prevent foreclosures. 
Posted by Harrison K. Long, Explore Properties Group, March 18, 2008, www.ExploreRealEstate.net.