Fed Says It Could Have Acted Sooner on Subprime Rout - 2007-03-22
The Federal Reserve could have acted faster to divert a meltdown in the subprime-mortgage market by curbing the lax lending standards that contributed to the crisis, the Fed's chief bank supervisor declared. Lawmakers called the hearing after increasing concern that the deterioration of subprime lending will spread to regular mortgages and even into the broader economy by dragging down consumer spending.
Read the full story at Bloomberg

U.S. states oppose bailout to subprime lenders - 2007-03-22
Congress should not bail out subprime lenders and brokers who made high risk mortgage loans to borrowers with bad credit, but lawmakers can take several steps to protect consumers going forward, a representative of the Conference of State Bank Supervisors declared on Thursday. Brown said subprime borrowers with home equity and incomes to support reasonable mortgages can refinance their loans.
Read the full story at Canada.com