Economy - Monday
(Investor's Business Daily)
Investor's Business Daily - The rise in mortgage delinquencies and foreclosures has been "sudden and substantial" and the gov't and private sector should explore "a broader range of interventions" to stem the tide, said San Francisco Fed President Janet Yellen. She said efforts to modify troubled loans haven't gone far enough. "The foreclosure crisis is likely to have a profound impact" on communities as lower property taxes shrink local gov't revenues, she said.
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