“Mish” Shedlock: California’s 90-Day Foreclosure Moratorium Will Accomplish Nothing… Supporters Disagree.

"Today, the State of California imposes a 90-day moratorium on housing foreclosures under a controversial new law that many say, with the school year having ended and summer already upon us, has been put into place just in the nick of time. Others, however, are convinced that the new law is ill conceived and will accomplish nothing."