By Richard E Walrath

As far as I can see, there’s been a big hub-bub about increasing liquidity to relieve the pressure on creditors. 

The ones who are really in dire straits and need the help are the debtors–the ones who are going to lose their homes in the next year, in some cases these people should never have been home owners in the first place.

The creditors are big enough and rich enough to take care of themselves.  If they over-extended themselves by investing in subprime mortgages, bailing them out will just en courage them to do more of the same the next time.  

In the meantime, the economy is ready to go into the tank, and the loss of a million homes dumped onto the already anemic housing market should do the trick.  I don’t see any likelihood that help is on the way for these million homeowners. 

A proposal from Bush for another tax-cut for the rich and Big Bidness is much more likely.