The US Treasury is reportedly considering direct intervention in the mortgage market to stimulate the US housing sector.
Finally!!! Paulson has come to his senses, recognized that our economy is doomed without direct support to subprime mortgage holders, and will stem foreclosures through federal action.
Wait...what? You mean, he wants to respond to the housing crash by re-inflating a housing bubble? He doesn't want to prevent millions of foreclosures? Rather, encourage artificially low rate mortgages and securitization? We don't need to keep people in their homes, but need to get more people to buy more homes they can't afford, in the midst of a recession?
What!?!?!
The US Treasury is reportedly considering direct intervention in the mortgage market to stimulate the US housing sector.
