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FLASHPOINT for Oct 12, 2007

Friday, Oct. 12, 2007 | 7:26 a.m.

So there are two ways for leaders to get at the mortgage- lending crisis in Nevada, which leads the nation in foreclosures. Way No. 1: Call a "summit," which is really a meeting with one side (lenders), then emerge and say there is no crisis and the participants don't think more regulation is needed. Call this the Gov. Jim Gibbons approach. Way No. 2: Gather a diverse group - lenders, housing assistance agencies, legislators - and then have a news conference where a wide array of opinions are discussed, as was the case Wednesday in Reno. That's the Sen. Harry Reid approach. Neither has produced actual solutions yet. But at least Reid got the atmospherics right, even inviting the expert Gibbons kicked out of his event. Have to love that touch.

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