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Facing the Mortgage Crisis
Want to know how we got in this economic mess? Want to know what kind of trouble America's banks are in? Want to know how to translate finance speak? If you're confused, there's nobody better at clearing the fog than NPR's Adam Davidson. Davidson stops by the studio to explain the status of America's banking system.
Host Maureen Cavanaugh speaks to local realtor Matt Battiata, and journalist Kelly Bennett about what's happening locally, and about what the federal government can do to improve the housing market. We also discuss the uptick in foreclosures in the higher-priced neighborhoods, and talk about how the mysterious banks play into the housing situation.
President Barack Obama introduced a plan to overhaul the country's financial regulatory system earlier this week. What are the specifics of the president's financial regulation plan, and who's already lining up in opposition?
Congressional Democrats are trying to pass a bill to keep more California residents in their homes, but opponents say the legislation will raise the cost of homes. Matt Laslo reports.
President Barack Obama says California will receive $145 million to help communities hard-hit by the foreclosure crisis.