• Most Popular
  • Most Shared

Obama says to unveil housing plan within 2 months

WASHINGTON
Wed Jan 7, 2009 7:09pm EST

WASHINGTON (Reuters) - U.S. President-elect Barack Obama said on Wednesday he planned to unveil a plan to stem the mounting tide of home foreclosures in the next month or two.

Barack Obama

"Dealing with this foreclosure crisis is something that we've got to do," Obama said in an interview with CNBC.

"I expect to unveil plans to prevent foreclosures in consultation with (Rep.) Barney Frank and (Sen.) Chris Dodd, who've done some very good work on this, sometime in the next month or two," he added, referring to the chairmen of the congressional committees that oversee banking.

Obama also had warm words for Federal Deposit Insurance Corp Chairman Sheila Bair, who he said "had the sense of urgency about the problem that I want to see."

Asked whether he would tap former Time Warner Inc Chairman Richard Parsons to be U.S. commerce secretary, Obama declined to answer, although he called Parsons "a great guy" and good friend.

(Reporting by Tim Ahmann; Editing by Leslie Adler)



More from Reuters

Photo

Time Warner Cable, Fox at impasse; blackout looms

NEW YORK (Reuters) - About 13 million Time Warner Cable Inc subscribers will lose Fox programing at midnight unless the cable service provider reaches a last-minute deal to pay News Corp fees to broadcast the network's shows.

 A picture of an arrow in this file photo. REUTERS/File

The coming Great Inflation

Real or imagined, Americans have plenty of things to worry about. Should inflation be one of them?  Full Article 

People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article