Bush and Bernanke to launch twin subprime assault
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U.S. President George W. Bush will  outline reforms on Friday to help struggling subprime mortgage  borrowers and his central bank chief will deliver a speech  which will be pored over for hints of a looming rate cut.
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President George W. Bush will  propose reforms on Friday intended to help homeowners with  subprime mortgages avoid default, his first public step to  address a crisis that has created turmoil in financial markets  around the world.
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President Bush said on Wednesday it  was up to the markets to decide the value of the dollar against  the euro and added that a new rate hike by the Federal Reserve  was an indication of concern about the weak dollar.
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Federal Reserve chief Ben S. Bernanke told lawmakers today it is "critically important" that any economic stimulus package take effect quickly if it is to help ward off recession, and the White House announced that President Bush would make a speech Friday laying out his criteria for such a program.
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President George W. Bush on Friday will propose a series of steps to address the mortgage crisis after weeks of turmoil in financial markets, the White House said.
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WHITE HOUSE President Bush is pledging to &quot;take on&quot; the nation&#39;s huge deficits -- in hopes of shoring up the sagging US dollar.
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President Bush said on Wednesday a  renewed drive to cut U.S. budget deficits should help the weak  dollar and that Tuesday's Federal Reserve interest-rate hike  showed Alan Greenspan's awareness of the greenback's plight.
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The crisis in the U.S. subprime  mortgage market has heightened tension between mortgage lenders  and brokers who both hope to shape any laws aimed at stamping  out dangerous loans.
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President Bush announced several steps to help Americans who have credit problems meet the rising cost of their housing loans.
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U.S. stocks surged on Friday as President Bush and Federal Reserve Chairman Ben Bernanke reassured investors they would do what was needed to shelter the economy from market turmoil.
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Over the weekend, the U.S. Federal Reserve Chairman Alan Greenspan hinted at the maintenance of ``weak dollar policy (in Germany) while President Bush said he is committed to a ``strong dollar (in Chile). In a ...
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The White House and the Federal Reserve are likely to come under increasing pressure now that turmoil in the financial markets appears to be spreading to the wider economy.
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Stocks headed for a higher open on Friday as investors drew support from news that President Bush would unveil a plan to help subprime mortgage borrowers and loosen credit conditions that have rattled financial markets for six weeks.
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President Bush enlisted two former presidents for an ambitious private fund-raising drive for victims of the deadly tsunami on Monday, asking Americans to open their wallets to help the millions left homeless, hungry and injured.
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WHITE HOUSE President Bush is pledging to "take on" the nation's huge deficits -- in hopes of shoring up the sagging U-S dollar.
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Federal Reserve Chairman Ben Bernanke is scheduled to testify before the House of Representatives' Financial Services Committee on September 20, a spokesman for the panel said on Thursday.
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Five banks in the New England region will announce a $125 million fund on Thursday to help subprime borrowers, the Boston Federal Reserve Bank said on Wednesday.