Re: Paulson\'s Plan to Freeze Mortgage Adjustments
"Plan" in this case probably means literally that, or maybe more literally "proposal". Every year, the administration releases a new budget but that is just a suggestion for the Congress.
In some years, Congress actually takes it seriously as a starting point for legislation (for example the 2001 tax cuts). Other times, like when Congress & Admin are controlled by different parties, it's pretty much ignored.
FWIW, this "plan" makes no sense to me. Also, I'm amazed that for all the talk about what to do, no one really seems to be acknowledging that housing prices are just too high and need to fall. Probably a case can be made that having them fall slower is better than having them fall faster, but still...
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