Amid a 12 percent jump in U.S. foreclosure filings in February, civil rights leader Rev. Jesse Jackson on Tuesday called on consumers struggling with subprime mortgages to take to the streets and urged the federal government to step in and help them secure their homes.Back on March 13th, Senator Christopher J. Dodd (D-Conn.) chairman of the Senate Banking, Housing and Urban Affairs Committee was:
"What we must do now is begin to ask for some bailout of victims of this crisis," Jackson, president of Chicago-based Rainbow/PUSH Coalition, said at a news conference at the University of Chicago's"
"suggesting that the federal government could offer financial assistance to at-risk homeowners. He offered no specifics, telling reporters only that the government needs to provide at-risk homeowners "forbearance or something like that" to help them "work through" their debts. "For these consumers," Dodd said in a speech to the National League of Cities, "the American dream will become the American nightmare."Since then, Senator Dodd has seemed to reatreat a bit from the bailout option. In general, a bailout option for homedebtors and / or lenders is still on the table.
What do readers think about the Federal government helping out struggling 'homeowners' and/ or lenders?