Bernanke proposes new mortgage guarantees (MSNBC)
Story date: 2007-11-08 03:49:52
Added on: 2007-11-08 23:00:16
As Congress and the financial services industry struggle to cope with rising mortgage defaults and a deepening housing slump, Federal Reserve Chairman Ben Bernanke Wednesday proposed that the federal government guarantee so-called “jumbo” home loans up to $1 million.
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