If anybody thknis this effort to help prevent forclosures has the best interests of troubled homeowners in mind he is a Pollyanna. This is all about saving banks, investment companies, and other big businesses from the logical consequences of their irresponsibility. The irresponsibility of the 100% liar loans, the AAA rating of dubious tranches of the MBS of all types, the $100 million bonuses of Wall Street investment house executives, and all the rest of the mess are what is being protected. Wait until the law suits get into full-swing. The bond rating shysters, the managers of state and municipal retirement funds who invested in this toxic waste to gain another couple percent return, and all the other fools and cheats will have their blood running in the streets. Ultimately you and I will pay the price for this mess brought on by Greenspan and all the other fools blinded by idiotic the market will regulate itself responsibly ideology.

by Jose 07:51:38 AM 2012.05.14