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From Bloomberg....The new plan, which isn’t final and could change, would be voluntary for lenders and investors..... Well if it's voluntary for the lenders, nothing is going to change, it is now. It should be made involuntary.
It's nice that big brother wants to help foreclosure victims (those who have already slipped under the water and drowned), but its even better when they realize that while there are people already drowned, there is a greater mass of people who have been treading water for a very long time and can't keep it up much longer. Kudos to the president for trying to address that aspect of this financial crisis.
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For Sale: $155,000
For Sale: $950