nytimes.com - 10/31/2008
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Experts say it is difficult to devise programs to aid distressed homeowners without giving everyone else a reason to mail the keys back to their lenders. >
edition.cnn.com - 10/27/2008
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Quotes on Possible Treasury Mortgage Plan
Calculated Risk —
A few quotes from David Streitfeld's piece in the NY Times: Mortgage Plan May Aid Many and Irk Others “Why am I being punished for having bought a house I could afford? I am beginning to think I would have rocks in my head if I keep paying my mortgage.”Todd Lawrence, homeowner, outside Norwich, Conn.“If the lunch truly is free, the demand for free lunches will be large.” Paul McCulley, PIMCO“If the government says, ‘Prove that you can’t afford your house and we’ll redo your mortgage,’ then people are going to try to qualify.” Peter Schiff, President of Euro Pacific Capital“I ...
The Mortgage Bailout 'Is Not About Trying to Create Fairness'
Hit & Run —
... The New York Times discovers the moral hazard lurking in the various plans to save homeowners from their bad investments. "Experts say it is difficult to devise programs to aid distressed homeowners without giving everyone else a reason to mail the keys back to their lenders," it reports. You think? ...
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