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Who’s to blame for the mortgage crisis? Not foolish borrowers or predatory lenders, according to Louisiana Congressman John Fleming. The 4th District Republican blames Congress. “Congress was not looking out for us,” the freshman lawmaker told a town hall crowd in Shreveport. “They were creating funding for this crazy organization ACORN. And ACORN of course had a mission of trying to get …
On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. “There was literally a pause in that room where the oxygen left,” says Sen. Christopher Dodd (D-Conn.). FRONTLINE producer Michael Kirk goes behind closed doors in Washington and on Wall Street to investigate how the economy went so bad so fast and why emerge
Obama to Come up with Aid for Housing Industry US President Barack Obama is set carve out yet another survival package for the nation’s ailing housing industry in a bid to stem the tide of home foreclosures. The intended plan comes after a mammoth $787 billion economic stimulus plan was cleared by the Congress on Friday. The President is scheduled to head West this week and his aides revealed that on Wednesday, President Obama would outline his housing plan at Phoenix, Arizona. It is estimat
WASHINGTON – Keeping the economy front and center, President Barack Obama heads west this week to sign the $787 billion stimulus bill and tackle the home mortgage foreclosure crisis. The direct appeals for public support follow scant GOP backing in Congress for his agenda and increasing partisan bickering.
WASHINGTON — Keeping the economy front and center, President Barack Obama heads west this week to sign the $787 billion stimulus bill and tackle the home mortgage foreclosure crisis. The direct appeals for public support follow scant GOP backing in Congress for his agenda and increasing partisan bickering. Passage of the stimulus measure [...]
