Bush’s ‘too little, too late’ subprime solution.

On The Situation Room yesterday, CNN financial analyst Ali Velshi broke down Bush’s mortgage plan. “Despite the fact that the White House says it’s going to help up to 1.2 million people,” Velshi said, “the best numbers we can get is 240,000 people who are going to be helped by this.” CNN noted that the rules attached to the plan cut out many homeowners who need help. “There’s still a lot of people who stand to lose their homes. That means a lot of people are saying this plan is a little too little and a little too late,” Velshi said. Watch it:

[flv http://video.thinkprogress.org/2007/12/velshimort.320.240.flv]