patrick.net

I believe the bill as put forth by Democrats was always a red-herring designed to give the Democrat party the ability to say, "We tried to help in housing and the meanie Republican President said no."

I fully agree it was a poor bill as written. And Iam also sick of the gamesmenship where phony bills are put out just to give sound bites later.

Congress, DO YOUR JOB. If you want to help housing, do it in a rational fair way.

I really hate it when Bush makes sense. Perhaps it's not so easy to say he's with us or against us. ;-)

Not that anyone should forgive his warmongering, or his attacks on our privacy and personal freedom, but at least on housing, he seems to be right.

Speaking of heroic action, looks like the TAF auction had a bid-to-cover of over 1.29. If you offer it, they will come.

Regarding the Frank bill, this does not look good (from Bloomberg):
Under the House plan, states would repair foreclosed homes and find residents to fill vacancies that lawmakers say erode the value of neighboring properties. Funds would be allocated based on a state's percentage of foreclosures, with the hardest- hit states, such as Ohio and Nevada, benefiting most.

The legislation ``would create an additional incentive for more lenders to foreclose rather than attempt a workout with distressed homeowners,'' the OMB said.

Yeah, Iraq is very upsetting. :(

We cannot count on a politician to do the "right" thing. However, they may just "happen" to agree with our positions.

My biggest complaint(s) are:

1. Cronyism. It is clear Mr. Bush places fantastically incompetent people in elevated positions of power. Brown as FEMA director? What was that?

2. Policey by fiat. Having a good idea (or getting good ideas from those around you) is never the hard part at Mr Bush's level - its selling the idea. Building consesus. Getting buy-in.