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Mortgage Servicers Pledge to Accelerate Modifications -  By Dawn Kopecki – Mortgage servicers meeting with Obama administration officials pledged to step up the pace of loan modifications to keep more struggling homeowners from sliding into foreclosure, according to the U.S. Treasury. -  Bloomberg

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Barney Threatens Cramdowns – Modify or Else! – Frank threatens banks to stop foreclosures -   By ANNE FLAHERTY (AP) –  A senior House Democrat threatened banks Wednesday that if they don’t volunteer to save more homeowners from foreclosure, Congress will make them.In a sternly worded statement, Rep. Barney Frank said Congress will revive legislation that would let bankruptcy judges write down a person’s monthly mortgage payment if the number of loan modifications remain low. – AP Google
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Obama’s stimulus killers - The president’s two big legislative goals for the fall could put new burdens on a weak economy.-  By Nina Easton – Barack Obama promised universal health care and a mass conversion to green energy when he launched his presidential campaign. – Fortune

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Let’s Break up the Fed – By AMAR BHIDÉ – The Federal Reserve has done a terrible job at financial regulation. Why give it more power? … Mr. Bhidé, a visiting scholar at Harvard, is the author of “The Venturesome Economy”  … – WSJ Opinion