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Fed Chairman Ben Bernanke said accelerating rates of foreclosures and delinquencies can have a significant impact on the economy and called for more to be done in order to prevent them. Speaking Monday night at the Columbia Business School's 32nd annual dinner, Bernanke said the rate of foreclosures...
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In order to prevent more foreclosures, Fed Governor Randall Kroszner said lenders should lower mortgage rates and reduce principal for borrowers whose home prices have dropped below their loan values. Testifying before the House Financial Services Panel on Wednesday, Kroszner urged Congress to move quickly...