Bush proposes steps to deal with mortgage crisis
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President George W. Bush on Friday tried to calm financial market turmoil from the credit crisis by announcing proposals intended to prevent homeowners from defaulting on risky mortgages.
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White House unveils plan to freeze some ''teaser rate'' mortgages, and stocks pop.
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President Bush said on Thursday that addressing the long-term problems in Social Security would reassure the financial markets, offering a rationale to offset
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President George W. Bush on Thursday said he would consider "all options" to help the U.S. economy weather a deep housing slump but the economy was fundamentally strong.
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President Bush gave a wide-ranging speech about the economy yesterday, but proposed no new policies to deal with the emerging economic distress. Instead, he asked Congress to take up various actions that have been mainstays of the administration's second-term economic policy.
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The Federal Reserve on Friday  reassured investors it would take any steps needed to shelter  the U.S. economy from a global credit squeeze, while President  George W. Bush promised to help struggling homeowners refinance  their mortgages.
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WASHINGTON -- President Bush on Thursday cited "some unsettling times" in the U.S. housing and credit markets as he sought to assure jittery Americans that the economy is holding up well despite worries about a recession.
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The White House said on Monday that  it envisages using government borrowing to help finance  President Bush's plan to add personal retirement accounts to  Social Security.
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WASHINGTON - President Bush sought Americans&#39; support Thursday for quick action on an economic agenda that would bring far-reaching changes to their lives.
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President George W. Bush on Thursday signed into law a measure that will waive taxes on many homeowners who must restructure their mortgages as they face foreclosure.
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US Treasury Secretary Henry Paulson stresses that mortgage lenders should shoulder the blame for the credit crisis.
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The Bush administration is softening its opposition to proposals to expand government-backed mortgage companies ahead of an expect wave of foreclosures.
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President Bush today outlined his plan for helping troubled subprime borrowers keep their homes. The initiatives target hundreds of thousands of homeowners. The president said he would not bail out homeowners facing foreclosures or lenders with financial problems.
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KANSAS CITY, Missouri  - President George W. Bush on Friday said there were troubling signs that the economy is weakening and urged Congress to move on a stimulus package to help prop up the economy, which has been hit hard by a housing slump and credit crisis.
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The proposal by federal regulators comes as subprime mortgages have come under stress and scrutiny.
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President Bush on Friday intends to discuss ways to help the hundreds of thousands of borrowers hard hit by the housing slump and credit crunch that are rocking financial markets.
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Looking to help homeowners avoid foreclosure, the Democratic-controlled House wants to insure mortgages and provide affordable housing grants well beyond limits favored by the Bush administration.