From the news conference:Obama: “I can tell you with complete confidence that a failure to act will only deepen this crisis as well as the pain felt by millions of Americans."

They are rare here in the college area, but are just a pain in the butt to manage with the irresponsibility of today's students (and their parents!).

Certainly a boatload of mistakes were made by the Bush administration.

They're a huge pain in the butt to deal with because they're just too damn big and you'll have racked up hours on hold by the time you close, but if that's the only way...

Here are a few links that can, I think, shed some light on this discussion: Obama Foreclosure Plan Gets Generally Positive Reviews Marketwatch: Lawmakers and bankers support Obama loan plan Here's a link to a summary of the plan being proposed: Homeowner Affordability and Stability Plan I was on a conference call this morning with members of the Administration from the Treasury Department and HUD and the general reaction was positive, although most of the people on the call were part of the affordable housing and foreclosure intervention communities around the country.

Whereas just raising the hell out of taxes for any 'affluent' individuals making $40,000 or more would be the current administration's choice.

In the first bailout by the Busch administration AmX was granted permission to be a bank so they can get their share of the bailout money.

"With two missile strikes over the past week, the Obama administration has expanded the covert war run by the Central Intelligence Agency inside Pakistan, attacking a militant network seeking to topple the Pakistani government.""

Once we've suffered the pain, then maybe there would be something they could do to improve things.

Over 48% of loan modifications done by Bush administration went into reforeclosure (probably more by now).