| 6 weeks 1 day 2 hours ago Obama proposes relief for homeowners
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(NECN: New York, NY) - Democratic presidential contender Barack Obama proposed relief for homeowners and an additional $30 billion stimulus package to address the nation's economic woes.
The senator spoke not far from Wall Street Thursday morning. New York Mayor Michael Bloomberg introduced Obama, but stopped short of an endorsement.
"We can emerge from great economic upheavals, stronger, not weaker...only if we rebuild trust between investors and lenders," said Obama.
Obama says, "We have to confront the housing crisis" -- while knocking President Bush and rival John McCain's tactics.
Obama said we need to bring the foreclosure crisis to and end, so he has sponsored Senator Chris Dodd's legislation.
The political debate comes as a new government report shows the
economy nearly sputtered out at the end of the year and is probably
faring even worse amid continuing housing, credit and financial
crises.
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