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Inside Washington (05/09/2008)
* WASHINGTON (5/12/08)--A recent two-day conference on financial education held by the Treasury Department and the Organization for Economic Cooperation and Development attracted speakers and attendees from more than 40 different countries. The conference was held at the Organization of American States building in Washington, D.C. Pictured are (from left): Juri Valdov, senior vice president of external affairs at Northwest FCU, Herndon, Va., chair of the Credit Union National Association’s (CUNA) Governmental Affairs Committee, and former CUNA chairman; and Pete Crear, president/CEO of the World Council of Credit Unions (WOCCU). Crear described WOCCU’s initiatives to address the lack of financial education in developing countries. “No credit should be given without its accompanying education,” he said. (Photo provided by the Credit Union National Association) * WASHINGTON (5/12/08)--Just a few months ago, presidential candidates Hillary Clinton (D-N.Y.), Barack Obama (D-Ill.) and John McCain (R-Ariz.) made major speeches on the problems in the struggling housing market. But the candidates’ attention to the housing market has shifted to other issues--such as gasoline cost and taxes (American Banker May 9). At a panel last week with the Securities Industry and Financial Markets Association that featured all three campaigns’ economic advisers, no audience members posed questions about the mortgage market. The focus was on tax issues. The candidates likely will focus on housing again, because the market’s downturn affects each region of the country, said Michael S. Barr, a University of Michigan Law professor who worked as a special assistant to former Treasury Secretary Robert Rubin. This week, the House approved a package of bills that would provide relief to some borrowers in foreclosure. The package must receive Senate approval, however it has been threatened by a White House veto ...


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