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FDIC's Bair: Housing crisis is a national problem

Posted on May 16, 2008

FDIC Chairman Sheila Bair at the Brookings Institution Forum, The Great Credit Squeeze: How it Happened, How to Prevent Another [W]e have some significant challenges ahead of us. And while some credit markets may be stabilizing, families, communities, and the economy continue to suffer.Frankly, things may get worse before they get better.As regulators, we continue to see a lot of distress out there....[A]ll of us can see the strain on state and local government budgets and the impact on the banking and financial systems.And there is more uncertainty ahead.Data show there could be a second wave...

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economy , foreclosures , housing , markets