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Banks worsened crisis

President Barack Obama’s housing secretary said yesterday “it’s shameful” that financial institutions may have made the housing crisis worse by improperly processing foreclosures.

WASHINGTON – President Barack Obama’s housing secretary said yesterday “it’s shameful” that financial institutions may have made the housing crisis worse by improperly processing foreclosures.

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said in a column on the Huffington Post website that a comprehensive review of the foreclosure crisis was under way and the administration would respond with “the full force of the law where problems are found.”

 
 
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