 4/10 Good --- losangeles.injuryboard.com http://losangeles.injuryboard.com/index.xml
| LA injury attorney Paul Kiesel posts about many types of injuries and causes facing southern Californians today. Mr. Kiesel is experienced with many areas of personal injury law including class action, defective products, sexual abuse, toxic and hazardous substances and wrongful death. ... |
Tuesday, July 08, 2008 --- 97 days ago http://losangeles.injuryboard.com/miscellaneous/fed-is-convinced-mortgage-crisis
| Ben Bernanke , Chairman of the Federal Reserve, said Tuesday morning that new lending rules would be put into effect next week to restrict exotic mortgages and to help curb other dubious lending practices in an effort to protect future homebuyers. In regards to the current state of financial markets, Mr Bernanke said, "The financial turmoil is ongoing, and our efforts today are concentrated on helping the financial system return to more normal functioning [. . .] It is not too soon, however, to begin to think about the steps we might take to reduce the incidence and severity of future crises," ( The New York Times , 7/8/08). Bernanke is correct in his latter statement; the Fed needs to take the proper steps in order to reduce the incidence of what took place during the subprime boom from happening again, however, in regards to his acknowledgement of the ongoing mortgage crisis , something needs to be down now, in order to help stave off even further market damage/losses. Congress has been unable to pass a housing bill or relief plan for troubled homeowners and the Fed has done little to aid the mortgage crisis, with the exception of endorsing programs like Hope Now, which has provided minute help to people in troubled or fraudulent loans. However, and fortunately, the Fed is beginning to see that the end is nowhere in sight per the mortgage crisis. In fact, the Fed, and Bernanke through his comments today, seem to suggest that the cris ... |
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