Obama just announced that they'll allow the government agencies responsible for financing the housing bubble to try to prop that bubble up by allowing refis of up to 125% of the house's "value" (original price?). I can't imagine who'd buy such an instrument from them, but just a word to the wise, don't do it if it tempts you.
Refis are 2nd mortgages and are recourse loans; unlike 1st mortgages, if you default on a refi, they can take the house, then come after you for the rest.
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The poor guy wanted the job, knowing full well that economic growth and prosperity were likely headed for the padded brick wall.
I get the sneaking suspicion that, like my svelte analogy, the administration is simply throwing ideas at the wall and seeing if they stick.
What else is there to try anyway?
Well, they could repeal the Fed...
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