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Obama's Mortgage Restructuring Plan: Will It Work?

Thursday February 19, 2009
On 18 February 2009, President Obama announced a $75 billion mortgage restructuring plan designed to help Americans stay in their homes; details will be released on 4 March 2009.

There are historical precedents from the Great Depression; former President Bush initiated a similar program in December 2007; and Congress got in the act in July 2008. Even with this pedigree, or perhaps because of it, this is a controversial proposal.

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