Bernanke says more needs to be done on foreclosures

Despite good-faith efforts to stem the problem, the foreclosure rate is too high, harming both homeowners and the economy as a whole, Federal Reserve Chairman Ben Bernanke said. He told a Fed meeting on mortgage and housing markets that he wants to see policies to prevent foreclosures when there is hope of doing so. 

more at http://www.nytimes.com/2008/12/05/business/05housing.html?_r=2&ref=businesshttp://www.nytimes.com/2008/12/05/business/05housing.html?_r=2&ref=business