As home foreclosures reached a record high Thursday, President Bush announced a deal with mortgage lenders to freeze interest rates on some subprime mortgages due to move sharply higher soon. Treasury Secretary Henry Paulson discusses the details of the proposal. Continue reading
Question/Comment: As a long time observer of the mortgage market, particularly the subprime segment, I have been anticipating the current economic crunch for some time. Accordingly, I have been keeping a large amount of my savings ($85K) in an FDIC … Continue reading
- When can we expect to break even, or at least recover some of the value that we lost due to the declining real-estate market?
Question/Comment: Everyone mentions all of those unfortunate people who are defaulting on their home loans due to the sluggish economy. Nobody mentions, however, the many hardworking Americans who saved and struggled to buy their dream homes and they are now … Continue reading
In the first half of a two-part conversation, Jim Lehrer talks with former Federal Reserve Chairman Alan Greenspan about the recent actions of the Federal Reserve, the country’s mortgage crunch and his new book, “The Age of Turbulence.” Continue reading
The Federal Reserve is expected to cut interest rates to help shore up the nation’s economy. The NewsHour’s Paul Solman examines the Federal Reserve’s plans and what they mean for the economy. Continue reading
President Bush announced a series of measures Friday intended to help ease the credit crunch caused by mortgage defaults, while Federal Reserve Chairman Ben Bernanke said he would monitor the situation. Continue reading
Acknowledging a period of increased economic risk that could restrain growth, the Federal Reserve on Friday cut the discount rate at which it makes loans to banks. An economic consultant and a business journalist explain the move. Continue reading