recession

• Chances rise for federal help for troubled homeowners - Mar. 26, 2008
  akabagel
  Mar 27 2008
  

  Has anyone been reading about the Dodd-Frank bill? It sounds like a really bad idea.

  Quoted: Valliere said that the idea gaining the most support is a plan from Senate Banking Chairman Chris Dodd and House Financial Services Chairman Barney Frank. Both are Democrats.

  Quoted: The proposal, likely to be introduced soon after Congress returns from the Easter recess next week, would have the Federal Housing Administration guarantee hundreds of billions of new, lower-cost loans to troubled homeowners. Many borrowers would see their total principal on these new mortgages reduced under this program.

  Quoted: "I think there's a growing populist feeling that if you're going to bail out Bear Stearns you better bail out individuals," said Greg Valliere, political economist with the Stanford Group, a Washington think tank.

  And I don't understand why people think the Feds loan to JP Morgan to buy Bear Stearns is a 'bailout'. Why do people think this?

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