Wednesday + Thursday Open Thread
President Obama has a plan to "incentivize" lenders to restructure mortgages that are at or near foreclosure. The Homeowner Stability Initiative aims to make payments "sustainable", which is defined as 31% of income. There is also a program to help refinance negative equity mortgages.
GM and Chrysler are asking for some more money as well. GM wants $16.6 billion more, and Chrysler wants another $5 billion. In additional news stinerman would like his student loans forgiven, which should only cost the average taxpayer slightly over 1/100th of a penny.
Who else needs a bailout today?