So, he speaks.We should not bail out lenders, real estate speculators or those made the reckless decision to buy a home they knew they could never afford,” Bush said after meeting with industry leaders at the White House(Wasn’t that everybody?)………”But there are some responsible homeowners who could avoid foreclosure with some assistance.”(Responsible people are not in 11% interest rate loans and make their payments on time.)Bush said 1.2 million people could be eligible for help. Only a fraction will be subject to the rate freeze.(I am doing my own calculations at home……okay, two people are eligible to have their payments reduced.)Bush also urged people to call a new hot line 1-888-995-HOPE.(Bush originally gave the wrong number for the hot line; the White House later corrected him.)

     Where were we?Oh, the stock market closed up 178 points on the good news. Tomorrow: employment numbers come out.I heard everybody has a job as of this week.

– Dale Siegel