Pharma Investments, Ventures & Law Weekly
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Center for Responsible Lending
Center for Responsible Lending: Congress Must Address Foreclosures
October 26th, 2008
Now that Congress has passed the $700 billion bailout bill to address the credit crunch, there is an urgent need to address the root causes of today's economic crisis -- massive foreclosures in our communities. Going forward, CRL calls on Congress to act quickly to assist families facing foreclosure. "Any plan that fails to stop foreclosures will ultimately fail to fix the crisis," said Michael Calhoun, president of CRL. "Wall Street firms and banks caused a massive foreclosure crisis in this country, and this bailout provides no meaningful way to end it. It doesn't stop the epidemic of foreclosures that will continue to drag down property values for everyone." ...
Source: Pharma Investments, Ventures & Law Weekly (2008-10-26)
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