We’ve got to make clear, here, that a foreclosure hurts every American,” he told CNN.
No, it doesn’t.
Foreclosures are a natural way of the system healing itself. If you drink too much, a hangover is the body’s way of trying to return to normal.
The best thing for foreclosures is not to try to stop them, but to instead speed them up, and humanely help those being foreclosed upon into housing that better fits their needs, to prevent them from being homeless. That means taking the dummies who are in a McMansion and moving them into an apartment, not letting them stay in their McMansion for another three years.
What a ditz. Geithner was underwhelming, this guy doesn’t seem much better.