Keeping Families Above Water

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Keeping Families Above Water

raywax 05-08-2008, 9:39 AM | Post #2515736 | 3 Replies

The subject is the title of today's David Wessel column on p2. (note the page, it tells you something about the author) in today's WSJ. You can read the column at this Link. Remember the the housing market is over column post pretty much assumes a bill close to the Barney Frank one will be approved. There also was (last night and probably is still there today) a note in the Journal last night that there "was room to compromise" by the Administration with Barney Frank on his bill.

Ray

Related Topics housing market target

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Re: Keeping Families Above Water

deajv1 05-09-2008, 7:55 AM | Post #2516058

In todays WSJ,MICHAEL R. CRITTENDEN and ELIZABETH WILLIAMSON have an article on page A3 on the same subject. Last night on CNBC Kudlow&Co, Congressman Barney Frank was a guest. He said that this housing bill was crafted with input from the FEd and Treasury. In the Wessel article, lenders to cut loans to 90% of value. Last night Frank stated 85% and the loans would be handled by FHA.

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Re: Keeping Families Above Water

JaredMRP 05-09-2008, 12:51 PM | Post #2516195

I also watched the Barney Frank interview last night. Although some type of bailout is probably necessary to help stem the housing crisis, I am a little bit dismayed at the possiblility of a bailout for house flippers.

Deajv1, did you notice that shortly after the interview, Kudlow reiterated his oft-quoted creed that "free market capitalism is the best path to prosperity." Apparently Kudlow doesn't see any inconsistency in calling for Federal bailouts as part of "free market capitalism."

Jared