WASHINGTON, D.C.– The subprime mortgage assistance plan unveiled by President Bush yesterday was created with the input of lenders and Wall Street investment banking firms and was deemed a good start, but consumer groups said it offered limited assistance to many troubled homeowners.

Investors, who bought the securitized loans complained as well, saying it went too far, letting some off the hook for making poor choices while denying their own promised profits. Treasury Secretary Henry Paulson acknowledged the limitations, saying, "We face a difficult problem for which there is no perfect solution."

Meanwhile, Democratic presidential candidates John Edwards and Hillary Clinton announced their approval of the freezing of introductory rates the plan entails, but said it didn't go far enough. Edwards wants a freeze for seven years and Clinton advocates a moratorium on foreclosures, an across-the-board rate freeze and reporting requirements for servicers and lenders.