So what’s another $ billion down the shithole?
Why can’t these idiots allow the housing market to find it’s clearing level, and then allow a normal market recovery??
Because the act of "finding a clearing level" would take down some of our largest banks, the investment banks who packaged those mortgages into tranches of CDO's, and the firm (AIG) that insured those CDO's. As I said, this is to bail out the financial industry, not mortgage holders.