Based on all the government hoopla of fixing rates and helping the poor, the innocent and the hungry, many people believe………

     Believe what- I say! That this is all a bunch of fluff, that this is government interference, smoke, BS, a snow job?I am not sure what people think.

     I can bet that it will be all of the above.I can bet that the speeches and the reaching out is an exercise in futility as well as a bunch of hype.The mortgage industry is rules by corporate and global moneymaking machines, not the government.

     Once a loan is accepted by a borrower, it becomes part of a mortgage pool and sold on the open market.The price paid for it is based on the risk factors and the potential interest income.If China bought a sixty billion dollar pool of “sub-prime” loans from Chase, and paid a premium for it based on the future interest income, are they going to take a hit? NO!Our government cannot force a investor of this or another country to lower their income on something they paid for in good faith.I do not blame the investor for saying no and do not think they should do it anyway.They thing is that Paulson keeps going on about “The Plan” and has yet to explain the process.We are to hear from the President and Paulson at approximate 1:30 Will they finally outline the process, the players and the potential results in easy language? Will they use laymen’s terms and carefully explain step by step so the people whom are in foreclosure can understand? The World waits with baiting breath.I just hope the President remembers the agenda he is suppose to address.Perhaps he can spin the mortgage situation and make is seem like it is part of Iran’s plot to bring us to WWIII.Back on after that!