Posts Tagged ‘Obama program for mortgage refinancing loan’
Some members of the Congressional Black Caucus (CBC) have planned to derail the passing of the Bill that would put regulatory reforms on the financial sector. These members of the Congressional Black Caucus are demanding more money for Stimulus, mortgage refinancing and TARP. This are unrelated issues to the bill being about to be put to a vote, but they want to use this as leverage to get their message across.
The move by the CBC is seen as putting more pressure on the Obama administration to put money into the programs like mortgage refinancing, stimulus and TARP. A recent poll shows that the national unemployment level is around 10 percent but African Americans account for 15 or so percent which might apparently trigger this change of heart for some members of the CBC.
There is already a huge Obama program for mortgage refinancing loan but somehow they still need more money for these programs.
To read more on the story about members of the CBC threatened to oppose Financial Regulatory reform.
The news was also reported in most of the TV news stations.
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