Clintonomics: $30 billion for housing aid
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(I agree that ‘Clintonomics’ is on the lame side, but it paves the way for a catchier headline, ‘Obamanomics’)
News item: Sen. Hillary Clinton will announce a new economic stimulus plan later today in Los Angeles. Politico.com has some early details:
--The $70 billion plan to ‘jump-start’ the economy will include ‘establishing a $30-billion Emergency Housing Crisis Fund to assist states and cities in mitigating the effects of foreclosures ... immediate, time-limited resources to states, cities and community organizations to help prevent unnecessary foreclosures.... States and communities could also use the funds to offset the costs associated with vacant properties by supporting efforts like community-level anti-blight programs and helping local housing authorities buy up vacant properties and rent them to working families.”
-- Politico says Clinton will re-heat her previously served call for a 90-day moratorium on subprime foreclosures and an automatic rate freeze on subprime mortgages.
I’ll update later today with a few details from the speech itself. Question: you think she’ll take a shot at Mozilo today? Comments, thoughts, insights, quibbles and corrections are always welcome. E-mail story tips to peter.viles@latimes.com.