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The Bush Subprime Fix

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by Matt Cooper
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Dec 06 2007 12:00am EDT

The Bush Subprime Fix

What does the deal with lenders mean for Bush and the candidates? I think it's good for Bush, a case of response to crisis that was more competent than Katrina.

The free-market ideologues are screaming that it's coercive and maybe it is. But it's in no one's interest to have massive defaults.

I'm surprised the other candidates haven't done more with the issue, either in terms of putting out their own plans or blasting Bush. Hillary Clinton, for whom my spouse works, put out one yesterday.

We may still end up with more federal action and a more direct bailout a la the savings & loan mess and then we'll revisit the whole thing again.

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