Thursday, March 13, 2008

Forclosure?

Too little too late:

The latest U.S. federal plan to restore confidence in U.S. mortgage bond
and housing markets, promising strict home lender and mortgage broker standards,
might thwart the next crisis but does little to quell this one.

U.S. Treasury Secretary Henry Paulson unveiled the President's Working
Group plan on Thursday, recommending "strong nationwide licensing standards" for
brokers and tougher oversight of all mortgage originators.
For those hit by the mortgage collapse the money is already gone .... and so is the house.