2012beof-111206092256-phpapp02

From a regulatory stand point the federal housing

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Unformatted text preview: ffordable Refinance Program (HARP) that are intended to attract more eligible borrowers who can benefit from refinancing their home mortgage to lower rates. All of these actions are to support and stimulate the economy, but there are limits to what monetary policy can accomplish. It is plausible that such extraordinary actions are inhibiting investors and consumers—that, in fact, the suspension of normal policy action and consequences is itself creating a road block to recovery. In October 2011, the September personal savings rate data were released. It had fallen to 3.6%, the lowest since December 2007 and down from 5.3% in June. The concern is that the consumer strength FInAnCE AnD InSURAnCE EMPLOyMEnT FINANCE AND INSURANCE EMPLOYMENT 2003–2012 2003-2012 (In Thousands) (In Thousands) Year 2003 2004 2005 2006 2007 2008 2009 2010a 2011b 2012c Credit Intermediation and Related Activities 50.7 51.5 53.3 53.7 51.8 48.6 46.6 45.7 44.8 44.0 Securities, Commodities, and Other Activities Insurance Carri...
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