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CAN THE GOVERNMENT FIX THE MORTGAGE MESS??
THE MORTGAGE MESS AND THE GOVERNMENT FIXES.
Fellow ActiveRain member Ken Montville speculates on the likelihood of significant losses in market value for home owners.  Of course, it's all speculation.  We can't see into the future.  We can, however, speculate and the 30% decline in market value doesn't seem out of range to me.  Further, the speculation that the government can prevent such a loss of market value by "saving" home owners from foreclosure or loss of their home through short sale, is, I believe, unlikely, simply because there just isn't enough money for them to do so.  Any government fix, I believe, would simply do what all government "fixes" do, they favor some groups over others.  For one thing, the government still has some "fixing" to do in Iraq.  That's the classic example of "You break it, you fix it".   
So far, all of the government "fixes" have reminded me of the proverbial "Gnat on the Elephant's back". 
DON'T UNDERESTIMATE THE DEPTH AND REACH OF THE MORTGAGE MESS.  The reach of the mortgage mess is wider than the government can handle.  Unless the government is prepared to take over the financial houses that traded those securities designed to finance the exotic loan instruments to permit unqualified home buyers and investors to buy properties, there is little the government ... more

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