Just announced, compassionate rethugs will shortly announce the fix has been made/is in, concerning the pending sub prime melt down Link.
Just what this means may take days if not months to think through. Please add your take on this development.
Regardless of what one may think, I suggest the fact there has been apparent secret discussions over the past weeks resulting in this Friday afternoon breaking news means the fecal matter may shortly be striking the air rotor machine
It should be noted this is a "sub prime" antidote [and may not impact the pending ARM resets on non-sub prime mortgages] which will substantially balloon during January 2008 thru May 2008.
For all the rethug huy and cry of small government/no government, I am surprised the rethugs are now suggesting there is a role for government
"If there was ever a role for government, it's to help facilitate a solution when innovation has outrun the private sector's ability to deal with it," said Paulson. "And there's been a lot of innovation and complexity in the mortgage market, and we need to do everything we can to help get the industry ready to meet the growing number of resets that are going to be coming in the subprime mortgage market."