The primary intent of this Plan is to provide financial assistance to homeowners who find themselves in financial trouble not just because of predatory lenders or bad or irresponsible borrowing decisions. In fact, not all lenders have been bad. The incentives offered by the Plan is to encourage lenders to do things they might not otherwise be willing to do to assist the troubled homeowner and the housing industry. We’ve already seen what happened with a hands-off policy, which gives me no confidence that the market will right itself if left alone, not without taking down a lot of innocent homeowners, wage earners, investors, and companies along the way. Am I confident this Plan will accomplish what its intends to do or that it will do so within any reasonable period of time? Not necessarily, but I’m willing to give it a chance.

I believe the majority of taxpayors agree something had to be done, despite the fact the reaction of the financial markets may indicate to the contrary. The run on the stock market and financial institutions has been more a knee-jerk, Chicken Little, reaction by investors not willing to take the time to either let the market correct itself or to give the Plan time to see if it will work. How reliable of an indicator is the stock market when it can loose 400 points one day and gain that much or more or most of it back the next day, with this pattern continually being repeated over the past several months?

I will happily inform my current and past clients, friends and family of this Plan and encourage them to take advantage of it if they need it. I will support it and do what I can to ensure it accomplishes its intended goals. But should we stop paying attention and asking hard questions? Of course, not.