Bair: 'Aggressive Intervention' Needed for Housing

MoneyNews
Friday, March 14, 2008

WASHINGTON -- The head of the Federal Deposit Insurance Corp. on Friday said "more aggressive intervention" might be needed to stem the flow of home foreclosures as part of fixing the U.S. housing market problems.
FDIC Chairman Sheila Bair said regulators are looking at various programs and proposals aimed at fixing the U.S. housing woes. "More aggressive intervention is probably going to be necessary," Bair said at the National Community Reinvestment Coalition housing conference.

Bair, who has been providing technical assistance to House Financial Services Committee Chairman Barney Frank's mortgage rescue plan, declined to specify what the intervention might entail.

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