Raines : The Devil is in the Details

First a little humor… Remember when banks used to offer little “perks” or teaser gifts if you opened a new savings or checking account with them? Today a friend sent me a “Super Saver” coupon supposedly from the Federal Deposit Insurance Corporation. It features four toasters for $19.99 each. But wait! With each toaster purchase, you get a coupon for a free bank. Some of the coupons are for Bear Stearns, Countrywide, and Freddie Mac, you get the idea. Limit one per customer.

Seriously, though, it seems that the White House,Democrats, and Republicans have finally realized what most of us already knew – that the housing crisis is what most Americans think is our most pressing economic problem and we should fix it right away. This is encouraging news. Now, if we could just get them to agree on how to do this it would be great.