Deal near on mortgage defaults

The right-wing extremists must be in a tizzy over this one because they do not acknowledge the housing market, much less the general economy, is in any kind of a "slump." The right-wing extremists get their marching orders - talking points - from the pundits who know how to make a buck off the true believer.

It's a real head-spinner indeed when the titular head of the gang of true believing agenda pushers, George Bush, not only betrays their loyalty by having his regime acknowledge yes, indeed, there just might be a problem with the economy and specifically with the housing market, but here's what my administration proposes to do about it...

And once the extremists recover from that body blow and regain their wind (gas?), then they have only their old standard of "If you're having financial hard times, it's your own fault" to fall back on and that supreme selfishness is not well served by a President whose regime actually appears to be trying to do something to relieve the problem.

It should be noted the extremists never have any real solutions to real problems and any attempt to address Reality is considered by them to be clearly un-American and treasonous.

Well, here's their bad news for today:

Deal near on mortgage defaults

WASHINGTON - Treasury Secretary Henry Paulson said Monday he is confident there will soon be an agreement to help thousands of homeowners avoid mortgage defaults by temporarily freezing their interest rates.

Paulson told a national housing conference that this effort involved a "pragmatic response" to current realities as the economy goes through the worst housing slump in more than two decades. The number of homeowners struggling to meet higher payments because their initial introductory rates are resetting is currently soaring.

Paulson and other top Treasury officials have been holding talks with major players in the mortgage industry over the past several weeks to hammer out an agreement that would freeze the lower introductory rates to keep them from resetting to higher levels for a period of years.

"We are working aggressively and quickly, utilizing available tools and creating new ones, to help financially responsible but struggling homeowners," Paulson said in a speech to a national housing conference sponsored by the Office of Thrift Supervision.

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Yeah, it would be nice if we lived in a perfect world and there were no hungry people or working families who had a hard struggle to make ends meet.