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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: Giordano Bruno who wrote (124872)5/22/2008 9:27:57 PM
From: Jim McMannisRead Replies (1) | Respond to of 306849
 
Fallout From a Bailout
How the Bear Stearns Intervention Will Haunt the Fed

washingtonpost.com

The Senate Banking Committee approved legislation Tuesday that would empower the Federal Housing Administration to provide relief to mortgage borrowers teetering on the brink of default. The House has already passed similar legislation. Only two months ago, mortgage aid was viewed as unlikely, but the odds now favor it becoming law. For this change of fortune, the legislation's chief sponsors, Sen. Chris Dodd of Connecticut and Rep. Barney Frank of Massachusetts, should thank one person in particular: Federal Reserve Chairman Ben Bernanke.

Politicians seeking to expand the role of government....more