No perfect solution from feds

President Bush acknowledges it's "no perfect solution." Treasury Secretary Henry Paulson says it's "no silver bullet." Associated Press in the Daily News.

The plan negotiated by the Bush administration to freeze the low introductory rates on subprime home loans appears likely to help only a fraction of the homeowners who face huge jumps in their mortgage payments.

Homeowners dialing up their mortgage company to get their current rate frozen could be disappointed. The White House plan doesn't force mortgage companies to give eligible homeowners a break. It is voluntary.