Bush to meet with financial policymakers
Summary from United States, from articles in English
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Mr. Bush, who opposes bankruptcy court help, suggests instead programs offered by the Federal Housing Administration to help mortgage holders with good credit and mortgage industry-sponsored refinancing programs. (article 4)
The administration last week also urged states to take a lead in tightening licensing standards for mortgage brokers and requiring better disclosure of mortgage lending terms. (article 4)
The group is led by U.S. Treasury Secretary Henry Paulson and also includes Federal Reserve Chairman Ben Bernanke as well as the heads of the Securities and Exchange Commission and the Commodity Futures Trading Commission. (article 1)
The meeting comes as a sharp downturn in the U.S. housing market has led to a full-blown credit crisis that has reverberated throughout the U.S. financial system. (article 1)
On Friday, Bear Stearns, the fifth largest investment bank, said it was turning to JPMorgan Chase and the Fed to secure emergency financing, an effort also involving the Treasury. (article 1)
The plan, which relies primarily on state regulators and private industry to tighten their oversight of financial markets, calls on states to issue nationwide licensing standards for mortgage brokers. (article 2)
The new rules would require closing costs to be clearly laid out so consumers can shop for the best loan, and put limits on the changes allowed in that estimate, the department said. (article 3)
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Other stories about Bear, Stearns and Fed:
Event tracking:
Story keywords
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Bear, Stearns, Fed, banks, Financial |
Source articles
- Bush to meet with financial policymakers (Washington Post, 03/15/2008, 215 words)
- White House Offers Plan to Ward Off Credit Crises (nytimes.com, 03/14/2008, 1229 words)
- HUD wants mortgage costs made clear to borrowers (USA Today, 03/14/2008, 1229 words)
- Mr. Bush, who opposes bankruptcy court help, sugge... (baltimoresun.com, 03/17/2008, 190 words)
- New York Times (nytimes.com, 03/14/2008, 528 words)
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