Mortgage Deal Props Up California House of Cards: Steven Greenhut
This article is for subscribers only.
Feb. 9 (Bloomberg) -- Why should a taxpayer in Houston orWichita bail out irresponsible California homeowners, banks andthe state’s public employees’ retirement fund?
Yet that’s exactly what the Obama administration is lookingto do in its latest effort to shore up a housing market thatcontinues to sag as large percentages of Americans remainunderwater in their mortgages.