It looks like we are in for at least a pause.

If the Fed were going to pause in response to Katrina, it probably would be in November and December,

If the Fed doesn't at least hint that a pause could be on the way, I think that would surprise the market.

I confirmed our position that an immediate end to the bombing is necessary or, at least, a pause in the bombing must be declared while talks continue.

The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.

In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.