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October 23, 2008

Admin Mulls $40B Mortgage Plan
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The Bush administration is reportedly considering a $40 billion measure
to assist homeowners at risk of foreclosure and the banks they’ve
borrowed from. According to the Wall Street Journal, the plan would give
banks a financial incentive to restructure mortgages by having the
government share in losses on the new loans. The chair of the Federal
Deposit Insurance Corp., Sheila Bair, is expected to unveil the plans in
testimony before the Senate Banking Committee later today.



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