NYT Co. launches program to help subprime victims

The board of The New York Times Company's Neediest Cases Fund will contribute $1 million to help victims of the subprime mortgage crisis.
The new program is expected to help New York families relocate safely over the coming months.
The new Subprime Neediest Program will be administered by The New York Times Company Foundation and the Children's Aid Society, one of the seven agencies that receive funds from the annual Neediest Cases Fund campaign. Children's Aid will make grants to families whose urgent need is identified by the seven agencies and other housing and legal services agencies.
"The subprime mortgage crisis is attracting extensive policy attention, but so far we see no attention paid to the plight of people about to be pushed out onto the street," said Jack Rosenthal, president of The New York Times Company Foundation. "This program will help families in need and we hope other donors will join with us in this effort so that we can assist as many families as possible.
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