• «
• »

The Effect on You:

Earlier this week, we saw Wall Street's answer to Treasury Secretary Timothy Geithner's plan for shoring up our financial system–the market sank 5% on the announcement. In the words of Barclay Bank's U.S. economist... it was a plan of "shock and ugh !"

Part of the Street's reaction came from the fact that there were NO SPECIFICS, just rhetoric.

The only thing this piece of the bill guarantees is that mortgage rates will rise and only the "cream of the crop" borrowers will be able to qualify... and they will do so only with very large down payments.

Next: How many jobs, really?