Mar 10

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ProPublica’s Mortgage Mod Squad: HAMP’S a Flop

As you've probably heard by now either on our program or elsewhere, the administration's Home Affordable Modification Program (HAMP for short) has been a disappointment -- to put it generously. The program, announced back in February 2009, aimed to…

Lawmakers grilled former Treasury Secretary Henry Paulson Thursday over the government's role in Bank of America's merger with Merrill Lynch, saying authorities withheld information about losses and intimidated bank executives into sealing the deal.

Federal Reserve Chairman Ben Bernanke testified before a House committee Thursday, facing questions on the Fed's role in pushing Bank of America to acquire the struggling Merrill Lynch during the height of the Wall Street meltdown.

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