Bernanke urges more to be done on housing crisis
Quite a punchy speech from the Fed Chairman, especially the conclusion, which suggests big support ahead for housing:
In this regard, reducing the number of preventable foreclosures would not only help families stay in their homes, it would confer much wider benefits. Significant efforts have been taken in this direction, but more can be done. Today I have briefly discussed a few promising options, which are not necessarily mutually exclusive. As we as a country consider ways to address our financial and economic challenges, policy initiatives to reduce the number of preventable foreclosures should be high on the agenda.
Clearly, this is on the minds of the Fed. The NY Fed had this release that discussed the mortgage/housing proposals.
Bernanke Says U.S. Must Step Up Foreclosure Efforts – Bloomberg