I have been receiving many calls and emails asking if the bailout is "going to make a difference." Thus, I wanted to find out how some of you feel about the government's "BIG PLAN." (Let's hope this does not have the setbacks and delays of Boston's BIG DIG!). I would love your feedback, and your questions. I think the debate over the size, scope and expected effects is healthy, and maybe together we can wade through the labyrinthine turns of a plan that may - or may not - save us all before we are all forced to sell our worldly possessions on Ebay and move in together in the world's largest frat house.
What do you think - should investors be made to recognize (and be responsible for) their losses on bad mortgages, or will this continue the economic freefall we have been experiencing? Do you believe the banks will really allow people with good credit and an excellent payment history to receive the same re-financing opportunites as those who have defaulted on their loans have gotten? And what do you think the conforming loan limits should be - especially in high-priced areas such as L.A., San Francisco and New York? Is congress hearing our calls?
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