The Real Deal New York

Mayor Michael Bloomberg blasted plans in Washington for an economic stimulus package, saying in a speech to the U.S. Conference of Mayors that relief for struggling homeowners is more important. “The most important and immediate economic relief we can offer is to help people who are in danger of losing their homes stay in their homes,” Bloomberg said. The speech marked a change in Bloomberg’s stance on the subprime mortgage crisis. In August, Bloomberg criticized homebuyers “who really didn’t have the wherewithal” or “lied about their incomes” to get subprime mortgages.