Just like we called and raised hell about the $700 bil. We need to call and support this plan. Insuring the debts will keep the b.s. artists out of this program and force them out of business. Meanwhile, the bank with something real, like a real person, in a real house, with a real job, with a real mortgage, can get that debt shored up on their balance sheets.
If they can suspend capital gains and the mark to market accounting rules on these assets, that would help even more. This plan could actually work and not bankrupt the US.
Also, tell Dingy HELL NO on any property flipper bailouts!!
Not so fast there, pardner.
Does this plan insure loans made using an ITIN and Matricula Consular card? If so, then these are most likely loans made to Mexican illegal aliens and we should not be paying for their loans.
No we need to reject this plan as well as it is socialism, just to a lesser degree. WHy don’t we just try some of Newt’s fiscally responsible and free-market solutions which would inject private capital into the market..?