US mortgage clock ticking, Dodd warns

Mr Dodd, the Connecticut Democrat who chairs the Senate banking committee, last month made an aggressive proposal to use public funds to guarantee the refinancing of up to $400bn (€250bn, £200bn) in mortgages at lower values through the Federal Housing Administration, the government-owned mortgage insurer.

http://us.ft.com/ftgateway/superpage.ft?news_id=fto041620081713149197


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