Posted by
Andrews on Wednesday, February 18, 2009 5:51:29 PM
Here is something to make you lose sleep,
a description of the planned "foreclosure prevention" program included in Obama's supposed stimulus package:
The administration is loosening refinancing restrictions for many
borrowers and providing incentives for lenders in hopes that the two
sides will work together to modify loans.
That should help, because what the economy really needs is some more low interest loans to subprime credit borrowers. "Encouraging" those worked out so well last time we tried it.
POSTSCRIPT
Not to mention that reducing the profit margins of financial institutions is a certain way to cure the liquidity crisis and make sure they remain solvent.