Reminder: Chris Rowe's Market Wrap Ups Now Mondays Only
Friday, June 13, 2008 | Chris RoweRating:
Hi Video Fans - Just in case you missed Monday's Wrap Up, and you're here for the usual Thursday videos, I've decided to cut it back to one day each week. You can access Monday's video here.
(Please let us know what you think about Chris Rowe's article.)
Rate his article here »
Rate his article here »
“Profit from the Trend”
Chris Rowe
Chief Investment Officer
The Trend Rider
Mark Your Economic Calendar: What's ahead for the week of June 13, 2008
1933: Homeowners Get Help
America's beleaguered homeowners got a dose of relief on this day in 1933, as Congress gave the nod to the Home Owners Refinancing Act. The legislation, passed during the furious first 100 days of President Franklin Roosevelt's New Dealing administration, was designed to help Depression-stricken citizens refinance their homes. Towards that end, Act established the HomeOwners Loan Corporation (HOLC), a typical Roosevelt-era administration which wielded federal funds in the fight against the Depression. Chaired for a spell by New Deal stalwart Jesse Holman Jones helped finance mortgages and even helped pay for repairs on some people's homes. Though HOLC lasted but three years, it doled out loans for roughly one million mortgages.
source: www.history.com
