The Treasury Department has released more details about that housing bailout plan. Still waiting for some of the Washington lobbies to weigh in on it. My colleague, Elana Schor, has interesting reporting on the fight over “cramdowns”–giving bankruptcy judges the power to rewrite mortgage terms. Would be curious to know if readers are hearing about other fights over the proposal. It feels like the Rick Santelli moment has not yet passed. This Wall Street Journal poll shows a lot of public doubt about the plan.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=145296