A lot of people are giving credit to Watt for changing his position to a more friendly stance. Really? I wonder. Has anyone thought that he and Obama may be playing us by introducing the 3% down mortgage, sure to draw the ire of the soon to be controlled Republican Congress? Which could cause wind down to get more support, I.e. Deja Vu. I am a long and strong FNMA/FMCC holder, agree that sweep is wrong, etc. however, I am also against getting back in another mortgage crisis by allowing homeowners to get in over their heads and not having enough stake in the game ( down payment/equity).
I have long thought our best hope was to reform from within, or accept some changes to protect taxpayer/guarantors. This sure sounds like short term memory on the part of Watt, or is it intentional to get Obama wind down jump started again?
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