As the federal government steps to the center of the financial crisis, devising plans to take ownership of hundreds of billions of dollars' worth of bad mortgages, a pair of simple questions rise to the fore: Will this intervention finally be enough to restore order? And what will this grand rescue cost taxpayers? Full Story »
Posted by Kaizar Campwala
Yes, I know that housing speculation is at the bottom of all this - but the speculation was based on overinflated values to begin with - so we are going to restore or stabilize what values?? And that will happen by banks resuming lending - based on what values?? Will the feds really start bailing our homeowners who are 'under water'?? And how much will this cost everyone in the long run?? One more triumph for unregulated free markets! Maybe the Iraqis with their huge budget surplus would like to help out??
