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Fed Chief Says More Action Needed to Cut Foreclosures - FOXBusiness.com
Federal Reserve Chairman Ben Bernanke on Thursday called for additional measures to stem the rising number of mortgage
defaults, stressing that home foreclosures have played a central role in the ongoing financial crisis.
If trends continue, lenders will initiate 2.25 million foreclosures
this year, up from an average annual pace of less than one million before the U.S. housing bubble burst in 2006.
I have been saying this for how long now.