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Obama calls for 90-day moratorium on foreclosures
Democratic Underground Latest Breaking News — ... heal the nation's ailing economy. The presidential candidate says banks that participate in the federal bailout should temporarily postpone foreclosures for families making good-faith efforts to pay their mortgage. He also called for a $3,000 tax credit for each additional full-time job a business creates. The tax break would end after 2010. Obama also is proposing letting people withdraw up to $10,000 from their retirement accounts without any penalty this year and next. Read more: http://news.yahoo.com/s/ap/20081013/ap_on_el_pr/obama

Obama calls for a moratorium on mortgage foreclosures
TigerHawk — Barack Obama is calling for a 90-day moratorium on mortgage foreclosures along with a package of other economic stimuli. I do not know whether it is a good or bad idea -- I can imagine arguments in both directions -- but I do wonder at the timing. If it were enacted quickly -- in the next couple of weeks -- the moratorium would expire right around inauguration day. A huge flood of pent-up foreclosure notices and the related hysterical press coverage seems like a bad way to begin a new presidency. 0 Comments: ...