Text of letter to Bank of America – Charlotte Business Journal:.
Posted under Government Bailout
This post was written by PoliticsRX on March 5, 2009
Obama administration launches housing plan
President Obama has unleashed a program to help “financially viable” homeowners refinance their existing mortgages. Additionally, homeowners with mortgages controlled by Fannie Mae and Freddie Mac will be eligable to refinance through June, 2010.
Read More: Obama administration launches housing plan.
Read More: Obama’s Refinance Plan released as scheduled.
Posted under Government Bailout, Keeping Informed, Stimulus
This post was written by PoliticsRX on March 4, 2009
Press Secretary Gibbs on bank nationalization
Press Secretary Robert Gibbs tries to quell rumors of bank nationalization, according to Breitbart.com / AP.
Obama tries to halt talk of bank nationalization.
Posted under Government Bailout, Keeping Informed
This post was written by PoliticsRX on February 20, 2009
Republicans discussing bank nationalization
According to FT.com, some lawmakers are considering the nationalization of some banks as a viable option.
President Obama seems to be favoring the Swedish model, which Sweden followed in the 90s. Under this model, the bank(s) are nationalized, balance sheets are cleaned up, and the bank is auctioned back to the public.
One alternative to the Swedish method was that used by Japan, which critics argue delayed their recovery by repeatedly throwing money at the banks which could not get a handle on their problems. Some say the US is currently headed in this direction.
Read More: FT.com / US / Politics & Foreign policy – Bank nationalisation gains ground with Republicans.
Posted under Government Bailout, Stimulus
This post was written by PoliticsRX on February 18, 2009
Obama’s $75 Billion Housing Relief Program
In an effort to “set the floor” on the housing crisis, Obama has unveiled a $75 billion housing relief program, stating that “All of us are paying a price for this home mortgage crisis”.
Geithner states the rules will be published on March 4th, and asserts quick results thereafter.
Read More: Obama unveils $75B mortgage relief plan – Mortgage Mess- msnbc.com.
Posted under Government Bailout, Stimulus
This post was written by PoliticsRX on February 18, 2009
