« Humanitarian, Faith, Medical and Veterans Groups Urge Obama to Review Landmine and Cluster Bomb Ban | Main | Landrieu, Snowe Highlight Key Small Business Provisions of Economic Recovery Package »
Treasury Secretary Geithner's Plan Must Stop Wave of Foreclosures
February 10, 2009he following is a statement by Michael Calhoun, President of the Center for Responsible Lending, on Geithner's "Financial Stability" Plan: We will not effectively stabilize the nation's banks and financial system until we stop the wave of foreclosures that continues to drive down the economy and harm millions of families. At least 8 million families risk losing their homes to foreclosure in the next four years. These foreclosures drive down the value of all homes, and in turn prevent a recovery of the housing and financial markets. The financial crisis will not end unless these foreclosures are reduced. Full release