Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: JakeStraw who wrote (59896)	2/23/2009 1:23:02 PM
From: TimF	1 Recommendation of 224762

Important point from that editorial "Obama's so-called mortgage-rescue plan amounts to $275 billion in new debt that will have little if any lasting impact on deeply corrected housing prices or the mortgage-default problem that stemmed from the insistence of government to throw home loans at lower-income people. A modest reduction in mortgage rates will have little impact on home prices, as Harvard professor Ed Glaser has shown. And by the way, re-default rates on modified mortgages have been running 50% to 60%. This is not going to change. So why should we throw more good money after bad?" ibdeditorials.com

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