Bajatexas

The Government's Subprime 'Bailout' Plan Will Kill the Housing Market

The intent of this plan is to encourage lenders to do what they would do if they were dealing with a sophisticated corporate client, that is, renegotiate the loan terms. Lenders do this sort of thing all the time. I personally think it makes sense. The objective is to stop the carnage and keep people in their homes, not bail out Californians who thought prices would rise forever.