Board of Governors of the Federal Reserve System - Mortgage Foreclosure Do You Care

so what is your opinion on all the madness in the housing world. the speech is good for understanding what is happening. but do you care?

Over the past year and a half, mortgage delinquencies have increased sharply, especially among riskier loans. This development has triggered a substantial and broad-based reassessment of risk in financial markets, and it has exacerbated the contraction in the housing sector. In my remarks today, I will discuss the causes of the distress in the mortgage sector and then turn to the key question of what can be done in this environment to reduce preventable foreclosures. http://www.federalreserve.gov/newsevents/speech/bernanke20080304a.htm
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