Breakthrough Reached in Negotiations on Bailout
Apparently an agreement has been reached on the bailout boondoggle (excuse me; Rescue Plan).
There is quite a bit of outrage regarding the proposal and “RPS” at the Calculated Risk blogspot pretty much sums it up:
“Call me stupid because I’m fiscally conservative and didn’t partake at the funny money tree via HELOC’s and wildly spend on vacations, SUV’s, plasma screens, etc… Instead I did not use the pseudo-inflated equity in my home. But those that did and now headed toward or in foreclosure will have their homes reassessed and price reduced. Plus receive lower rates on principal & interest. They’re rewarded and the rest of us are picking up their bar tab.”