Possible Moratorium on Foreclosures

WASHINGTON (Info from this article at MarketWatch) - Senate Banking Committee Chairman Christopher Dodd on Thursday discussed his financial regulatory reform program, which includes a proposal that would put a moratorium on foreclosures for up to 90-days. In a meeting with reporters, Dodd said the banking committee would try to have regulatory reform legislation ready by April, a deadline sought by President Obama. Dodd also said he "wouldn't be surprised" if the Treasury Department makes a request to Congress for more funds for a financial recovery program to create a government so called "bad bank" used to buy illiquid mortgage securities. Dodd also said that the Banking Committee will likely consider attaching a controversial provision that would give bankruptcy judges the authority to modify mortgages to an $825 billion stimulus bill