US seeks private sector fix for housing

Feb. 21 - The Bush administration is cool to the idea of a government bailout for U.S. homeowners facing foreclosure. U.S. Treasury Undersecretary for Domestic Finance Robert Steel told the Reuters Housing Summit on Thursday that the next 30 to 60 days will provide a much better gauge of efforts by the Hope Now alliance of mortgage lenders and servicers to keep troubled borrowers from losing their homes.

Speaker:
U.S. Treasury Undersecretary for Domestic Finance Robert Steel

Deborah Lutterbeck reportsReuters Video