The Bailout Backlash

CNN Money has a story on the backlash against the bailout which mentions FreedomWorks’ AngryRenter website and includes an interview with my colleague Adam Brandon.  A key point to make here is that bailing out homeowners through loan readjustments or no-foreclosure periods sounds like a softening measure, but the real result is to make the market’s downturn even worse. Instead of quickly going through the painful process, it extends it, protracting the downturn rather than making it easier.