Almost one year ago to the day, Barack Obama sent a letter (below) to Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson urging them to convene a homeownership preservation summit. Today, Clinton is proposing essentially the same thing.
One key difference, however, is the diversity and representation that Obama called for – not just some of the same people who helped to create these problems or have a direct financial industry stake in the outcome: “I urge you immediately to convene a homeownership preservation summit with leading mortgage lenders, investors, loan servicing organizations, consumer advocates, federal regulators and housing-related agencies to assess options for private sector responses to the challenge.”
click here to read the letter that Obama wrote to Bernanke
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