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Politics : President Barack Obama
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To: stockman_scott who wrote (52442)3/22/2009 8:43:10 AM
From: ChinuSFO  Read Replies (2) of 149317
 
Unlike what Galbraith says, I see the Obama Administration launching a multi prong initiative to battle the loan/mortgage crisis. They are willing to buy the toxic assets form the banks, leave the bank management and their staff intact while at the same time bringing in regulations so as to prevent them from giving out loans in a ax manner such as without verifying income, a higher LTV etc. etc.

It is like reigning in a dog on the loose in the park, giving it food and taking the dog for a walk in the park under a leash.
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