Thursday, December 6, 2007

Too little, too late (Katrina revisited)

Bush Touts Subprime Plan Faulted for Coming Too Late

President George W. Bush today announced an interest-rate freeze for subprime borrowers that Democrats said didn't go far enough and Standard & Poor's warned may lead to lower ratings on some mortgage bonds. ``I wish he would have started this process sooner", said Democratic Representative Maxine Waters of California. ``It's only going to help a very, very small number of people.''

Posted by alan @ 10:11 PM (501 views)
Please complete the required fields.



One thought on “Too little, too late (Katrina revisited)

  • Won’t this make those toxic loans even more toxic if the anticipated rate increase doesn’t happen, as their original value would have factored this in – somebody therefore has to lose.

    IMHO all this freeze will do is buy time, and Dubya and Paulson are obviously hoping that other factors will sort things out over the next 5 years. I wonder what they have in mind!!!

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>