I also read today on CNNMoney.com that CHL is partnering with one of its most outspoken critics, the Neighborhood Assistance Corporation of America to spearhead an initiative to arrange refinancing and restructuring of both prime and subprime as well as fixed and adjustable-rate mortgages.

Folks, when the nation's largest lender pairs up with a "consumer watchdog" (read: professional pain-in-the-ass) group, you just know it's the lender taking desperate measures to save its own skin.

I guess Charles Dudley Warner was right.