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The New, Newer, Newest Plan for Housing
I listen to the Newest plan for the housing market by Senator Clinton. This one made much more sense than the other bailout plans she had. But one of the things that struck me was how far behind the curve government is. When they actually start doing things to bailout folks usually it is too late and the market has turned. Even the Bear Sterns bailout is interesting as last night I heard a gentlemen talk about how if the Fed holds these mortgages long enough they will actually make money !! They apparently have done so in the past.
This leads me to the newest Clinton plan. No where in this plan is any oversight or regulation on lenders who made this mess. The only talk of oversight or change is in relation to sold loans. We as the taxpayers are footing the bill for this. How ? By lower interest rates. Your dollar is worth less. This makes it easier for the bigger boys to borrow to gobble up the big boys who are in trouble. The Chairman from Bear Sterns isn't selling his house. The Merrill CEO got his parachute. You got higher prices, higher unemployment, and a bad ... more

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