In the WSJ:
"Sheila Bair, chairman of the Federal Deposit Insurance Corp., suggested hidden financial motives may be coloring the debate over the plan, unveiled by the mortgage industry and endorsed by President Bush this past week....
I do worry that some of the investors have taken short positions on the ABX," an index based on subprime-mortgage-backed securities, Ms. Bair said in an interview...
George P. Miller, executive director of the American Securitization Forum, didn't dispute the notion that some investors who stand to incur losses from looser mortgage terms are opposing the plan. "It's to be expected that an investor's view of this could reflect their position in the capital structure of the investment," he said."
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