• Most Popular
  • Most Shared

Bernanke: rising home foreclosures very important issue

WASHINGTON
Thu Nov 8, 2007 11:34am EST

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Thursday called a rise in home foreclosures in the midst of the subprime mortgage debacle a very important issue.

"I think it is a very serious problem. I think it hurts people, I think it hurts communities," Bernanke told the congressional Joint Economic Committee in answering questions after testifying before the panel.

The Fed chief highlighted the central bank's efforts to better coordinate with states in regulating mortgage lenders, particularly those that don't fall under the supervision of federal banking regulators.

(Reporting By Joanne Morrison; Editing by Chizu Nomiyama,)


More from Reuters

Photo

U.S. probing if al Qaeda linked to airplane incident

WASHINGTON (Reuters) - The United States is investigating whether al Qaeda was involved in a Christmas Day attempt to blow up a passenger jet, but there is no early evidence the Nigerian suspect in the case was part of a larger plot, the U.S. homeland security chief said on Sunday. | Video

» More Top News
A Delta Airbus 330 airliner sits on a runway at Detroit Metropolitan Airport in Romulus, Michigan in this video grab made December 25, 2009. Credit: REUTERS/WDIV TV/Handout

The battle in mid-air

The attraction of bombing airliners means the aviation industry has to be constantly vigilant in its fight against attackers.  Full Article 

U.S.
A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
Political Risk in 2010:

Don't say we didn't warn you

With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

Global Markets