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Click here to visit the new home of Politics Daily!The Obama administration today sent to Congress proposals to reduce government support for the home finance market, a series of ambitious if sketchy and protracted moves that would wind down the federally backed mortgage giants Fannie Mae and Freddie Mac. The 32-page plan outlines steps to make room for more private capital while reducing the role of Fannie and Freddie -- known as government-sponsored enterprises -- in the market for funding loans to prospective home buyers. "This is a plan for fundamental reform -- to wind down the GSEs, strengthen consumer protection and preserve access to ...
America can't shake its recession blues, even if the recession is officially over. The painfully slow recovery is typical in the wake of a financial crisis like the Wall Street collapse, economists say. Still, the hard times are so persistent that I have been feeling twinges of guilt about President Obama's stimulus package. Many of Obama's ideas for a new economic foundation ended up in that package: expanded broadband coverage, competitive grants for innovative schools, computerized medical records, more science research, more investment in clean energy. I wanted all that, and the stimulus ...
WASHINGTON (March 25) -- It may be cheaper for taxpayers to help homeless families rent their own apartments instead of housing them in shelters and transitional housing programs, according to a new federal study that finds a wide range in costs for different responses to homelessness. Mark Johnston, deputy assistant secretary at the Department of Housing and Urban Development, said his department is remaking its approach to homelessness and giving communities more flexibility in how they spend federal aid. HUD also is distributing $1.5 billion in stimulus funding that can be used to help ...
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