U.S. Senator Jim Bunning introduced a bill to prohibit the former executives and directors of Fannie Mae and Freddie Mac from receiving severance pay after they were removed from their positions when the federal government took control of the two financial institutions this weekend.

For the past few weeks there’s been a lot of talk about the senate and house drafting a plan to bail out mortgage holders. The plan is to let judges change the terms of the mortgages. That means changing the amount owed and setting lower rates. Can you believe that?