Another Housing Bailout Plan

Martin Feldstein puts in his two cents.

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Another day, another bailout proposal for banks and homeowners. Today it's economist Martin Feldstein's turn. His plan, as delineated in the Wall Street Journal, would have the federal government lend homeowners money at a low rate, allowing them to reduce their mortgage by cutting interest and principal payments by 20 percent. Whether it is this plan or some other, look for Uncle Sam to step in big time.