Lisa Chow is the economics reporter at WNYC. She tries to explore in her stories surprising aspects of New York’s many economies—in plain view or hidden, in neighborhoods or sectors.
New York, NY –
Sen. Hillary Clinton says the $700 billion bailout plan is just the beginning of what needs to be done to prevent an even deeper economic crisis from unfolding in the U.S. She says Congress should adopt a program to rewrite mortgages and reset terms for families at risk of foreclosure.
CLINTON: We face serious economic times. And we've got to take action on behalf of struggling families with the same urgency that we've seen with respect to struggling financial institutions.
REPORTER: Sen. Clinton also wants to offer tax credits to home buyers to increase demand and jump-start the real estate market. She spoke in Manhattan yesterday alongside development and housing advocates.