The Fed decision to take action against foreclosures can only turn out poorly. For 2 decades Washington and the economists they have employed, have meddled with and held back economic tides which were not meant to be messed with. Preventing foreclosures should not be the goal of the Fed, the Treasury or the Senate Banking Committee. They should be concerned with guiding the US economy out of the wilderness and back to an equilibrium which we can use as a starting point for new growth. Preventing foreclosures is like holding back the tides. It can't work for long and its likely to cause stiffer consequences. If anything has been evident over the last couple of years, its exactly that. Our financial policy makers need to take their hands off of things which they can't really control and allow our economy to reset itself to a normal and sustainable level.
Instead we have a feltcher like Christopher Dodd influencing financial policies about which he knows nothing and is not qualified to be meddling with. There were no economics courses at the Mr. Potatohead State law school Christopher Dodd went to. Seriously, read this part ...
The school fails to make an appearance on any of USNews’ specialty rankings lists, and is not well known outside of its own region.
Christopher Dodd, went to Louisville, after growing up and living his entire life in Connecticut, which means he couldn't get in anywhere close to home and he obviously didn't get in there any place desireable.