Look, some type of bailout was going to happen as this thing started going into a death spiral. I’m not happy about it, but at least this is not a cross the board freeze. Plenty of ifs and whats typical of a govt plan. It is also on a volunteer basis. These means some foot dragging is called for by the lenders. If there was going to be a bailout, I’d rather have a republican one. The democrats want to give the people losing there homes back to them outright and across the board. These proposal will bleed the bailout into an inefective drip drip. This is the best case bailout, as far as bailouts go. By Jan 09 when the socialist can get into office, it will be too little to late to do anything about this housing bust. I don’t like it, but its the best bailout we guys could wish for, considering that one was coming. The less people it helps the better!
