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Obama should push principal reductions to help U.S. housing, Cisneros says

Posted on 05 October 2011

President Barack Obama has failed in his efforts to help the U.S. housing market recover and should focus on cutting the amount troubled homeowners owe, said Henry Cisneros, who was secretary of the U.S. Department of Housing and Urban Development under President Bill Clinton.
“It’s clear this has been the poorest part of the administration’s response,” Cisneros, 64, said during an interview at Bloomberg’s Los Angeles office yesterday. “The whole country is suffering through the fact that the housing sector is not up and running.”………………………………………Full Article: Source


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