Opinions please! Financial Bailout Bill Unveiled, Heads to House by Ruth Mantell and Andrea Coombes, Market Watch, September 28, 2008
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Nancy Pelosi, Speaker of the House of Representatives, defined the vote as a buy-in to stimulate the U.S. economy, adding it was not just about a financial bailout.
Henry Paulson, United States Treasury Secretary, believed the new legislation would unblock financial markets. At the same time, the bailout should have created an injection of confidence, positioning the lending institutions to once again begin offering credit, instrumental to job creation.
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But what about a mortgage bailout plan for distressed homeowners? The financial bailout plan contained a little language encouraging mortgage servicers to offer mortgage loan modifications assisting homeowners on the verge of foreclosure.
So what are you thinking about the financial bailout today? Here is your opportunity. Make your voice heard. Was it successful?
Join in with other readers and comment on the financial bailout, the mortgage market and other historical newsworthy events. Visit Ultimate Mortgage News to share your views and weigh in on other readers' opinions.
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Financial Bailout Plan was designed to assist US markets. Was it succcessful? Weigh in and offer your opinion.