Mortgage Crisis And Barack Obama's Responsibility

Thank you Andrew Sullivan. Barack Obama wrote a letter to Ben Bernanke and Henry Paulson about the looming mortgage crisis in March, that is, March 1007; over a year and a half ago. From the letter.....

"We cannot sit on the sidelines while increasing numbers of American families face the risk of losing their homes.

And while neither the government nor the private sector acting alone is capable of quickly balancing the important interests in widespread access to credit and responsible lending, both must act and act quickly...

[A] consortium of industry-related service providers and public interest advocates may be able to bring quick and efficient relief to millions of at-risk homeowners and neighborhoods, even before Congress has had an opportunity to act. There is an opportunity here to bring different interests together in the best interests of American homeowners and the American economy. Please don't let this opportunity pass us by."

Click on my "comment", below, to read the full letter.