Treasury, FDIC Said to Consider Guarantees to Stem Foreclosures

[Banjo]

Oct. 30 (Bloomberg) -- The U.S. Treasury and the Federal Deposit Insurance Corp. are considering a program that may offer about $500 billion in guarantees for troubled mortgages to stem record foreclosures, people familiar with the matter said.


http://www.bloomberg.com/apps/news?pid=20601109&sid=aPFaqO.S_m.g&refer=home

 

[flyingiguana]

this is stupid. reduce all mortgages(not including people with multiple properties or commercial) by x%. this would give the banks who put housing prices through the roof with reckless lending a free get out of jail card.