There's no federal money involved and it's not even close to a bailout. It could help as many as two thirds of sub-prime mortgage holders or as few as 12 percent. It was announced at the White House, but it's not really a government plan; it depends on voluntary action by the mortgage industry. Does it go too far or not far enough? Will it help reduce the record rate of foreclosures? Will it help to avert a recession or prevent a needed correction by keeping the price of housing artificially high? Can it avert a recession or is it too little too late?
KCRW
