Sign up to The Irish Times Archive (1859 - 2008)My Account »
Mon 07 Jul 2008Congress acts fast to stem foreclosures
US HOUSING and banking regulators have been summoned to Capitol Hill in Washington this week in an attempt to speed enactment of sweeping housing legislation lawmakers passed at the weekend.
The move will eliminate nervousness in European stock markets that the giant US mortgage companies Fannie Mae and Freddie Mac could fall victim to the subprime mortgage crisis that has engulfed the global banking system over the past 12 months.
Choose a Subscription type - required
