Tuesday, March 4, 2008

Banks should accept mortgage principal cuts: Bernanke (Reuters)



Federal Reserve Board Chairman Ben Bernanke (R) shakes hands with the Chairman of Independent Community Bankers of America (ICBA) James Ghiglieri, Jr. during the ICBA's annual convention in Orlando, Florida, March 4, 2008. Bernanke on Tuesday warned mortgage delinquencies and foreclosures were likely to rise and that more house price declines could be expected, and called for active measures to stabilize housing markets. (Scott Audette/Reuters)Reuters - Banks may have to swallow
reductions in the principal of some troubled home loans to ward
off greater losses that could result from outright default,
Federal Reserve Chairman Ben Bernanke said on Tuesday.




Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)