Paulson wants new laws to halt abusive loan practices.Should cons just let the markert fix it?
And just wait for the economy to collapse?
Or should they have done something 4 years ago when this problem started?
WASHINGTON (AP) — Treasury Secretary Henry Paulson called Tuesday for an aggressive response to deal with an unfolding housing crisis that he said presents a significant risk to the economy.
In the administration’s most detailed reaction to the steepest housing slump in 16 years, Paulson said that government and the financial industry should provide immediate help for homeowners trying to refinance current mortgages before they reset at much higher rates.
He also called for an overhaul of laws and regulations governing mortgage lending to halt abusive practices that contributed to the current crisis.