The Fluffy Mortgage Bailout

Fluff. That's all it really is. I'm not talking, of course, about the federal bailout agreement. You know, the one that applies to the drop-in-the-bucket of distressed homeowners out there. I didn't expect much from it, so I guess I'm not surprised that it turned out to be politics as usual. The best spin I have for this development is that it will have some kind of psychological effect on the market. I think the smart money will be on a continued slump until some real adjustment is allowed to take place, most likely without any real help from the feds.