Update1: The Federal Trade Commission (FTC) has announced that they have launched “389 law enforcement actions” in an effort to prevent, stop, and/or prosecute stimulus fraud:
“To con artists, today’s challenging economy presents a golden opportunity — sadly, an opportunity to play on the economic distress of American consumers,” [FTC Chairman Jon] Leibowitz said.
In early December, the Wall Street Journal published an article of supposed conversations between financial industry lobbyists who were have said to be encouraging Treasury officials to enact a program that would fix 30-year conforming rates at 4.5%. While nothing had resulted from those conversations back in December, Republican lawmakers have revitalized the idea earlier this week.
The criticisms we had with the idea of fixing mortgage interest rates back in December remain largely the same concerns we have today — if not enhanced to some degree.
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