Last Thursday, CNNMoney.com reported that another 279,561 homes sunk into the foreclosure abyss -- from foreclosure filings to notices of default, auction and repossessions -- in October. That's an increase of 5% from the previous month and 25% higher than October foreclosures in 2007. Yikes! And 56,954 of those foreclosures were in California alone!
New York Senator Charles Schumer wagged his finger at the Treasury Department for insufficiently regulating the money allocated by Congress to help stave off economic crisis and increase the liquidity in the market. He advocated that future mergers, aided by T.A.R.P. money, be approved by Treasury.
Banking, Housing & Urban Affairs, oh my! Please, Sen. Chris Dodd, D-Conn., use your Committee on Banking, Housing & Urban Affairs to save America from a disaster that promises to be 20-30 times worse than Hurricane Katrina!
Monday, November 17, 2008
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