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Obama vows to turn next to housing crisis

February 17th, 2009 1:25 PM by Lehel Szucs

Obama vows to turn next to housing crisis

The president, speaking to business leaders at the White House, says trouble in the housing sector is at 'the root of our economic challenges.'
By Christi Parsons
February 14, 2009
Reporting from Washington -- As Congress prepares to pass his economic rescue plan, President Barack Obama today promised to turn immediately to the housing crisis, saying he would soon offer more details on how to address "the root of our economic challenges."

He also called on business leaders to help his administration as their forbears helped President Franklin D. Roosevelt in the early days of his presidency.

 
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    But passing the plan is only the first step, he told members of the council, now a self-appointed panel that meets once a year.

    "To truly address this economic crisis, we need to address the crisis in our financial sector to get credit flowing again to families and businesses," Obama said. "We need to confront the crisis in the housing sector that has been at the root of our economic challenges, and I'll be discussing that soon.

    "We need comprehensive financial reform in the way government relates to the financial markets in order to deal with the complex challenges of the 21st century -- both as a way to restore trust and ensure that a crisis like this can never happen again."

    cparsons@tribune.com

    Posted in:General
    Posted by Lehel Szucs on February 17th, 2009 1:25 PM

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