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Joseph Smith Jr. has been chosen to oversee the multibillion-dollar national mortgage settlement announced earlier this week. Smith is described as a man who understands the plight of the homeowner without forgetting what makes a successful banking industry work.

President Obama continues his jobs tour today, in an attempt to gain public support for the Jobs Act. Tuesday, he visited Ohio, and today he will appear in Raleigh, North Carolina to continue spreading the message and meet with small business owners. Despite President Obama's claims not to be campaigning early for the 2012 election, the White House hopes to persuade voters he has the right strategy on the economy, and put pressure on Republicans to pass the package of spending initiatives and tax cuts.