Quote of the Day
By Creature
"The ARM recast implosion, the second major foreclosure wave, is on its way. I don't want to hear any of this 'nobody could have predicted' crap from Larry and Timmeh." -- Atrios, sending out warning flares, yet again, that the mortgage crisis is far from over.
President Obama missed a chance at stemming the crisis by not strongly backing the mortgage cramdown provision. Like it, or not, he now owns the next wave of defaults and the mess it leaves behind.
"The ARM recast implosion, the second major foreclosure wave, is on its way. I don't want to hear any of this 'nobody could have predicted' crap from Larry and Timmeh." -- Atrios, sending out warning flares, yet again, that the mortgage crisis is far from over.
President Obama missed a chance at stemming the crisis by not strongly backing the mortgage cramdown provision. Like it, or not, he now owns the next wave of defaults and the mess it leaves behind.
Labels: Barack Obama, economic crisis, mortgages
posted by creature at
4:03 PM
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