Obama to steer US through mortgage mess
By Larry Schlesinger
|
05 Nov 2008
The race is over. America has elected its first African-American president after Barack Obama trounced John McCain in today's historic election.
While it's yet to be made official, media reports said McCain had already called Obama to congratulate him.
Once the excitement dies down, the real challenge for 'President Obama' will be to find a way out of the current financial meltdown currently crippling the US and world economies.
Obama is expected to take a tough stance against lenders in particular.
Speaking in Washington in late August he said unscrupulous lenders who deceptively sold subprime mortgages to millions of Americans should be fined and the proceeds used to help bail out borrowers facing foreclosures.
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