A group of Democrats on the Senate Banking Committee sent President Bush a letter Thursday, accusing the administration of not dedicating “the time, attention or resources needed” to address the foreclosure issue.
In the letter, the senators called on the Treasury Department to work with the FDIC to allow banks to restructure mortgages to keep more people in their homes.
“Mr. President, time is short,” the senators wrote. “Every day we delay, thousands more families face the specter of losing their homes. We cannot afford another delay.”