OBAMA HOUSING RESCUE BUILT ON SHAKY GROUND U.S.

In the high school gymnasium of an Arizona community hard-hit by the housing crisis, U.S. President Barack Obama unveiled his latest rescue scheme for the economic crisis: an ambitious $75-billion (U.S.) plan to stem foreclosures that aims to keep as many as nine million households from losing their homes. 

Desautels finance professor Mo Chaudhury acknowledged that $75-billion is a "drop in the bucket" in relation to the size of the mortgage market. But he said the severity of the crisis leaves Mr. Obama with few palatable options.

 The Globe and Mail, February 19, 2009