The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: Les H	11/3/2009 8:37:48 PM
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Bernanke Housing Plan May Prompt Calls to Extend Aid By Craig Torres Nov. 3 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke is gambling that come March, he can stop the purchases of mortgage-backed securities that have propped up the U.S. housing market. Congress may have other ideas. The Fed chairman has already come under pressure from lawmakers including Senate Banking Committee Chairman Christopher Dodd of Connecticut and Representative Paul Kanjorski of Pennsylvania, both Democrats, to aid car companies and provide more credit to commercial real estate. In July, Kanjorski and 41 other members of Congress asked Bernanke to help support the commercial mortgage-backed securities market by extending the Fed’s Term Asset-Backed Securities Loan Facility through the end of 2010. The Fed approved an extension until March of 2010 for existing CMBS deals and until June 2010 for new ones. Fed officials said they were already considering the extension when they received Kanjorski’s letter. bloomberg.com

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