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2007.10.03

Mortgage Czar proposal

With more Americans being affected by the mortgage crunch, the Democratic majority is asking the President to get moving.  Just hours ago, Senate Democrats called on the President to appoint a czar that would respond much faster than the rest of the federal government to the current crisis:

“We will call on the president to appoint a special adviser to overseeand coordinate the federal government’s response to the subprimemeltdown,” a senior aide said, insisting on anonymity because the planhas not been announced.

The leaders’ participation reflects polls showing the issue couldbecome politically potent as more families are pulled into an undertowof debt. Sen. Hillary Clinton (D-N.Y.) has said the problem couldbecome as severe as the savings and loan crisis of the 1980s if thegovernment does not intervene more aggressively.

Of course, the usual suspects might accuse Democrats of trying to create even more bureaucracy.  Then again, it's not about big or small government, it's about efficient and good government that does its job when asked.

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