President Obama and the Home Mortgage Crisis
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President Obama wants $75 billion to help stop foreclosures and keep home prices from dropping further than they already have. How can homeowners qualify? Will the rescue plan be good for the economy? Also, the nightmare in Detroit continues. On Reporter's Notebook, the Chicago Tribune is calling for Roland Burris to resign from the US Senate. Minnesota still hasn't decided who won the November election.
Banner image: President Obama explains his plan to help homeowners and stabilize the housing market.
The Nightmare in Detroit Continues ()
Yesterday, General Motors and Chrysler raised their requests for federal aid to a total $21.6 billion. Even if that bailout were approved, would they still have to come back for more? David Shepardson reports from Washington for the Detroit News.
- David Shepardson: Reporter, Detroit News
Obama to the Rescue for Homeowners ()
In Phoenix, Arizona today, President Obama says it’s worth $75 billion to rescue nine million homeowners already in default or “underwater” with loans worth more than their houses. He said his plan would not reward “the unscrupulous or irresponsible” -- speculators, dishonest lenders or buyers who knew they were assuming obligations they couldn’t afford. We hear how homeowners can qualify for assistance and get some informed reaction.
A Burris under the Senate's Saddle ()
The Chicago Tribune counts four different stories from Roland Burris of how he was appointed to fill Barack Obama’s vacant seat in the US Senate. The paper says “the story gets worse with every telling. Enough. Roland Burris must resign.” Burris was appointed to the US Senate by former Governor Rod Blagojevich just before Blagojevich was thrown out of office. Will Burris be next? Josh Kraushaar reports for Politico.com.
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