This reminds me that many of the central factors behind the onset of the current downturn — e.g., unsustainable mortgage loads — haven’t really ever been resolved. The Obama administration’s main effort on this front, HAMP, failed pretty badly, and there hasn’t been any follow-up measure since. At this point, it’s really up to the Fed to get the recovery going again, so hopefully more people start calling on it to take action.
