The Plan
Again. Well, another plan that is. Here’s the big ‘mortgage saver’ plan.
I’m not going to try to break this down to figure out whether it’s good or bad. These plans are coming so fast and furious that I can’t possibly keep them all straight, and the whole mess just makes my head spin. One thing I do know for certain — this plan does absolutely nothing good for me. And as a taxpayer, it’s likely to cost me money — just like all the rest of them.
I’ll just watch the market to see what it does. Right now, it’s not giving any of this stuff a real warm reception.
Update: If you’re interested in a breakdown of and comments on the plan, head over to Calculated Risk.
Update: Mish asks:
…the Obama plan increases the size of Fannie and Freddie, rewards servicers for no reason, giving them an incentive actually to waste taxpayer money, and rewards those who acted irresponsibly. Is this a good thing?
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