Sunday, February 17, 2008

MLEC Redux

"As the Bush administration announced a fresh plan to aid homeowners overburdened by their mortgages, initial figures suggest much-touted earlier efforts have done little to help most troubled borrowers. ... In a companion move, the administration announced a toll-free number for homeowners, but the hotline has provided counseling to just 36,000 borrowers in the past two months", WSJ, 13 February 2008.

Yves Smith has a 13 February post I agree with on this at I have nothing to add to it.

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