Wednesday, December 29, 2010

Not Over

In response to my question about the federal response to the foreclosure crisis, Obama said that the best way to improve that situation was to improve the economy. True enough if you succeed in improving the economy, but that didn't happen, and there were more tools then (and to a lesser extent now) directly available to the executive branch for dealing with the foreclosure crisis that didn't require making President Snowe happy.

U.S. home foreclosures jumped in the third quarter and banks' efforts to keep borrowers in their homes dropped as the housing market continues to struggle, U.S. bank regulators said on Wednesday.