Federal Reserve Chairman Ben Bernanke outlined a new set of mortgage-lending rules Tuesday, which will be aimed at shielding future homebuyers from risky lending practices and avoiding a repeat of the country’s current mortgage crisis. Continue reading
The Justice Department and the FBI announced hundreds of arrests Thursday for mortgage fraud, which is blamed for sparking a national credit crisis and nationwide housing crisis. An NPR correspondent and Columbia Law professor examine the government crackdown.
Amid a continuing U.S. economic downturn, Capitol Hill lawmakers have been debating how to effectively provide relief for the housing crisis. Two members of Congress discuss their positions on the housing bill and how to best revive a slumping housing market. Continue reading
Federal Reserve Chairman Ben Bernanke defended the agency’s rescue of Bear Stearns in a Senate hearing Thursday, saying the move was necessary to prevent further impact on the general economy. Financial experts weigh the Fed’s response to recent economic turmoil. Continue reading
Federal Reserve Chairman Ben Bernanke on Wednesday told Congress that while the current downturn might be temporary, “a recession is possible.” Continue reading
Federal Reserve Chairman Ben Bernanke warned Congress Wednesday that the U.S. economy may continue to shrink — signaling the possible start of a recession — in his first testimony since the Fed approved the bailout of investment firm Bear Stearns. Continue reading