President Elect Obama Surfaces To Focus On Foreclosure Related Problems

Posted on November 20, 2008
Filed Under Foreclosure Homes | Leave a Comment

Immediately after the announcement of the election results, President elect Barack Obama kept a low profile but recently surfaced on television to focus on foreclosure related problems He said the $700 billion bail out measure has so far not had any noticeable impact on the economy. But he gave credit to the Bush government for trying to address the financial crisis that has taken on global proportions.

This was Obama’s first interview (CBS’ 60 minutes) since becoming president elect. He dwelt on home repossessions and the economy and also whether the mother of his wife Michelle would become part of the family when they shift to White House.

He said, “There’s no doubt that we have not been able yet to reset the confidence in the financial markets and in the consumer markets and among businesses that allow the economy to move forward in a strong way. And my job as president is going to be to make sure that we restore confidence.”

Barack Obama, a Democrat promised to speedily get going measures to help borrowers avoid foreclosure of the houses that were their homes. He added that the Congress together with the Bush administration should find a path acceptable to both by this week that will provide financial assistance to the automobile industry.

In a lighter vein Obama and Michelle allowed viewers a peep into their family scene.
Michelle Obama said that her first job was to see that their two daughters fit in comfortably with their new life style. Having done that she wants to assist the families of the military and also to better the system of public schools in Washington. She added, “The thing we’ve learned … as we’ve watched this campaign is that people, women, are capable of doing more than one thing well as the same time. And I’ve, you know, had to juggle being mom in chief and having a career for a long time.”

Officially Obama has resigned from the Senate on Sunday 16th November and has named few important persons who will be part of his close team. Speaking on the foreclosure related economic crisis he said he would emulate what Roosevelt had done after taking over the reins following the Great Depression. This is what the people expect of him and this is the common sense approach to the foreclosure issue.

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