http://www.npr.org/templates/story/story.php?storyId=16970077
...
"There's no perfect solution, but the homeowners deserve our help," he [The President] said.
He and Paulson stressed that government funds will not be used to execute the plan.
"Lenders and investors would face enormous losses, so they have an interest in supporting mortgage counseling and working with homeowners to prevent foreclosure," the president said.
...
