Market Update #2 - We carry on in the face of server issues and fed obstinance. Well OK, not fed obstinance, fed sublimity. I am glad they didn’t make the knee-jerk rate cut today as some predicted. It would have sent whispers of panic throughout the global economy, which is never a good thing.
Hillary Clinton unveils a government bailout program and while I disagree with pegging tax payers with a $1 billion tab for the mortgage mess; I am a big fan of the waiver of prepayment penalties on adjustable rate mortgages. I think that could help a lot of people on the brink of foreclosure.
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[Source: Blown Mortgage]
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