Analysis: Foreclosure issue puts White House in tough spot

10/12/2010 | New York Times (tiered subscription model), The

The outcry over troublesome foreclosures is building, but the White House is urging the public, regulators and others to not punish the industry. "Irresponsible banks need to be held accountable, but if we have not found a problem with a bank's process we do not believe that we should impose a moratorium where that can hurt the market and hurt individual buyers," said Shaun Donovan, secretary of Housing and Urban Development.

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