There’s always something to howl about.

President Bush Unveils “FHA-Secure” Program Today

Today, President Bush Announced Steps At The Federal Level To Help Homeowners In Need Of Assistance Avoid Foreclosure. These steps will help homeowners having difficulty paying their mortgages and ensure that the problems now disrupting the housing industry do not happen again. The fundamentals of America’s economy are strong – economic growth is healthy, wages are rising, and unemployment is low. The markets are in a period of transition as participants are re-assessing and re-pricing risk. 

The White House insists that this is not a bailout.  What are your thoughts?  What are the benefits or disadvantages of this temporary plan that aims to alleviate the pressure on the subprime drama?

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Comments are encouraged!