Fri Updates

The NYTimes has two articles of interest this morning. The first is about the Fed deciding that it may be time to help homeowners directly. This is a change in direction for Bernanke. He has been lending to banks, but not to homeowners dircttly. It looks like the plan to lower mortgage rates to 4.5% is taking shape. However, there is tension brewing between current homeowners and those looking to buy. The plan, as it stands now, will only help the purchase market. So once again, those of us who have paid their mortgage on-time may be left out in the cold. Not too fair, but not much about this bail out plan, from AIG on down, has been.

The second article of note in today's Times is from Floyd Norris, and it is about The Donald, who is trying to squirm his way out of paying Deutsche Bank $40 million as a result of a loan that he personally guaranteed for a condo project in Chicago. As usual, Trump is sleazy, priceless, and brilliant....all in the same paragraph.


NYTimes Fed Article

Trump See Act of God in Recession