I heard on CNBC this morning that ten different industry groups got together and signed a letter to Congress stating the urgency to supplement/augment the IndyMac/FDIC home loan rework programs.
They are stressing that without additional monies to actually support home prices, the bailout will not accomplish much, as home prices will continue to decline.
CNBC commentators actually agreed and stated they believe more home owner bailouts/house price stabilization provisions are on the way.
Is anyone hearing the same crap? I guess 700 billion isn’t enough of our tax dollars. We are now going to get gouged even more, to support housing prices and dumb ass purchasers.
