A Bailout You Can Believe In

Follow this link to the McClatchy News coverage of what might be the final bailout proposal.

First of all, I think this report on the plan is very even handedly done.  This is one reason why I like to read the McClatchy news service.

The use of warrants to let the taxpayer participate in any financial gains is a great idea. It is also good that there is recoginition that the Government’s ownership of the mortgages can be used to renegotiate these predatory deals in ways to help keep people in their homes.

Perhaps it is worthwhile that the Republicans got to add the alternative of a more insurance oriented approach to the bailout.  It seems reasonable to me to offer the “customer” more than just one plan.

My reading from this news story of Obama’s reaction to the deal is slightly different from the explicit interpretation in the article. I think Obama is just saying that the deal meets his requirements for gaining his vote.  He is not making any claim for responsibility in the way the deal came out.

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