Foreclosure problem too large to be ignored

Think tank's proposal draws inspiration from Depression-era agency

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The credit crunch and plague of home foreclosures are too large to be ignored, said representatives for a liberal think tank who today detailed plans for a new program that draws from the Depression-era Home Owner’s Loan Corp.

Laura Tyson, a senior fellow for the Washington, D.C.-based Center for American Progress, said she was “struck by the unanimity of views” during the World Economic Forum last month in Switzerland about the need for action to jump-start the U.S.