10/16/2008

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., says the $700 billion rescue plan may help to stabilize the financial markets, it does not aggressively tackle the foreclosure problem. "Why there's been such a political focus on making sure we're not unduly helping borrowers but then we're providing all this massive assistance at the institutional level, I don't understand it," she said. "It's been a frustration for me."

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