What deal is Bushco making with investors who've assumed foreclosed loans?

[Joe Fields]

I hear a deal is being worked out, but the details are sketchy. I always get nervous when the MSM says "the details are sketchy." I do know that they said the deal was tricky, because home mortgage lenders didn't want to be stick with millions of homes, and so they sold the notes to private investors.

My question is this: What is the administration offering these private investors, as an enticement to keep interest rates frozen? Is this going to amount to another bailout at taxpayer expense? What is the incentive for these investors who bought the loans? They aren't going to do the right thing out of the goodness of their heart, and unless they are forced to hold interest rates frozen by the government, there just has to be a payoff there somewhere.

And, as Erin Burnett pointed out last night, it is a coincidence that the three states critical to a republican victory in November just happen to be three of the states that were hardest hit by the mortgage crisis: California, Florida and Ohio. Hmmmm.....

What is being offered?