Daily news: National Crisis: Sub-prime Mortgage

WOW, Sub-prime Mortgage crisis finally got attention of President and Treasury Secretary.

The Bush administration unveiled a foreclosure relief plan Thursday that the White House said could help 1.2 million distressed homeowners.

Will it help? Don't thing, that it it will be able to help seriously. Temporary help yes, but will not fix the major problem with Sub-prime mortgage. Market will do a better job, but more painful.

Is this political move? Possible, better for Republican party? Yes. If this plan will not work in few years, who we will blame? Present party, no matter who will be Republican or Democrats.

In conclusion , its better than nothing.

On the market: oil is doing better up 2 dollar : 89.75 Prices on Pumps unchanged.
Dow and S&P are doing OK. up a 1 % on this Mortgage Breaking News from White House.

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