2009 July Finance, Insurance & Real Estate News: Senate Stalls Mortgage Cramdowns
The July issue of Finance, Insurance & Real Estate News, a monthly insert in Budget & Tax News, leads with news that the U.S. Senate has rejected legislation that would have allowed bankruptcy judges to cut mortgage terms to help borrowers avoid foreclosure.
Also in this issue:
- Government taxes on business are a key contributor to the boom-and-bust nature of economies—and contributed to the current financial crisis.
- Federal Reserve Chairman Ben Bernanke wants new banking oversight powers, while analysts question the value of “stress tests.”