Obama to Urge Congress to Shutter Fannie, Freddie

Monday, 05 Aug 2013 08:06 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama will urge Congress this week to back bipartisan efforts to shutter Fannie Mae and Freddie Mac, the mortgage-giants bailed out by the government in 2008.

Obama will also renew his calls for sweeping mortgage refinancing legislation when he travels to Phoenix Tuesday. Arizona's desert capital was the epicenter of the housing crisis that began in 2008, but the market there has rebounded strongly, with home prices up and foreclosures down.

The president's visit to Phoenix marks the latest stop on his summertime economic tour aimed at refocusing his agenda on middle class Americans still struggling to fully recover following the recession. The collapse of the housing market in particular had a dramatic impact on people's lives and the economic viability of communities across the country.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved