2012-01-25 — thestreet.com
``KBW analysts believe the plan might look something like an extension of the current HARP plan to include private mortgages. Still, they too seem to doubt the likelihood of the plan getting approval and called the proposal to pay for refinancing package with a bank tax a "poison pill."''
This nails it. Jesus Christ Obama, you are one weak, two-faced bank shill. Principal cram-downs should be "paid for" by forcing banks to pay for the fraud they committed in issuing the mortgages -- there can be no legitimate "philosophical" objection to that. Or even better, just push for a repeal of the bankruptcy "reform" act of 2005, and let the chips fall where they may. If the people of this country are not allowed to settle their mortgage debt to a level of burden they can actually bear, this economy is going to be as doomed as Greece's, and for essentially the same reasons.
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