Morning Mortgage Meltdown: Treasury Diversifying: The good news: Under the proposed...
Friday, Oct 3, 2008 | Updated 3:28 PM PST
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The good news: Under the proposed $700 billion bailout plan, the Treasury can purchase a broader range of "troubled assets" —not just your mortgage—giving them more flexibility to deal with a future crisis. The bad news: Under the proposed $700 billion bailout plan, the Treasury can purchase a broader range of "troubled assets"—not just your mortgage—so now you can lose everything and lenders wil be too damn scared to even give you an auto loan. [CNN Money]
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