New York, NY —
Saying the nation and New Jersey are facing the worst economic crisis since the Great Depression, Governor Jon Corzine has presented an economic stimulus plan to a joint session of the legislature. Corzine called for putting $500 million of state funds into community banks to boost their liquidity and make more money available to local businesses. He also called for a program to create jobs.
CORZINE: If a small businesss creates a job we’ll send that business a $3,000 check.
To address the housing crisis, Governor Corzine wants to make $150 million in state and federal funding available to prevent foreclosures, including financial counseling, mortgage restructuring, along with house and mortgage acquisitions