Immediate help for homeowners suffering from the housing crisis should be superior to a long-term overhaul of federal regulation of Wall Street, top Democratic senators said yesterday ahead of reintroducing foreclosure prevention legislation this week.

In a conference call shortly after Treasury Secretary Henry Paulson's speech on federal regulation, Senate Banking chairman Chris Dodd, D-Conn., and Majority Leader Harry Reid, D-Nev.,said lawmakers and the Bush administration should be focusing on providing help in the present.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.