WASHINGTON — Sen. Chris Dodd (D-Conn.), chairman of the Senate Committee on Banking, Housing and Urban Affairs, along with several other members of the committee, have sent a letter to President Bush urging his administration to address the foreclosure crisis-the root cause of our nation’s economic problems, they said.

The senators told President Bush that the Emergency Economic Stabilization Act gives the administration considerable new authority to prevent foreclosures. And, they explained, that while recent news reports have indicated that the administration plans to use this authority, the Treasury Department has yet to announce any efforts dedicated to helping people keep their homes.

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Peter Westerman

 

Credit Union Times

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