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CIOP in D.C. to speak with Bernanke
05/09/2008 20:09:56
By Beth Whisman
The Central Illinois Organizing Project teamed up Friday with similar groups in Washington to challenge the Federal Reserve Chair to get a handle on subprime mortgages. Julie Buckles of Bloomington spoke with Chairman Ben Bernanke about her experience fighting an unfair foreclosure process last year.
She tells WJBC's Beth Whisman the groups asked Bernanke to show the same sense of urgency now that he showed when the Fed bailed out Bear Stearns, a company heavily invested in subprime loans.
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Bernanke told the group he couldn't freeze interest rates or temporarily stop foreclosures without support from Congress.
Buckles says he only agreed to meet with the group after about 600 people protested outside his house and office last month.
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