UPDATE: John Berlau of CEI:
The new $75 billion foreclosure avoidance plan to be unveiled today by President Obama, from initial reports, continues the misguided efforts of the Bush administration and Congress to "keep people in their homes" at all costs. Such policies only end up disserving taxpayers, the economy, and frequently troubled borrowers themselves.Read the whole thing, my fellow deadbeats. And my creditors, too: Honest, I'm gonna pay you next week, guys.
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