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Article: Obama promises lower mortgage costs, new loans
- Article from:
- Sunday Gazette-Mail
- Article date:
- February 1, 2009
- Author:
CopyrightCopyright 2009 Sunday Gazette-Mail. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON - President Barack Obama on Saturday promised to lower
mortgage costs, offer job-creating loans for small businesses, get
credit flowing and rein in free-spending executives as he readies a
new road map for spending billions from the second installment of
the financial rescue plan.
The White House is deciding how to structure the remaining half
of the $700 billion that Congress approved last year to save
financial institutions and lenders. An announcement was possible as
early as this coming week on an approach that would use a range of
tools to unfreeze credit, helping families and businesses.
At the end of a week that saw hundreds of thousands of people
lose their jobs, Obama ...