Bush administration tries to prevent future credit crises

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The Bush administration has announced a plan aimed at preventing more
credit crises in the future. The plan would push state governments to
issue nationwide licensing standards for mortgage brokers, and create
legislation requiring more transparency by both lenders and
credit-rating agencies. The plan calls for limited action from the
federal government, to keep regulation to a minimum. Details of the
plan remain to be developed, Treasury secretary Henry Paulson said.

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