Don’t ask about the monkeys.

On the eve of the merger by Bank of America to bail out the shareholders of Countrywide, even more evidence of greed, self-serving, and morally bankrupt behavior from the nation’s largest lender reared its head.  In the following NBC video, a Countrywide employee pretty much confirms the worst fears of borrowers across the country; that their mortgage [...]

The Bush administration’s top housing official is under a criminal investigation and announced Monday he is quitting.  Housing and Urban Development Secretary Alphonso Jackson said his resignation will take effect on April 18.  For a couple of years now, Jackson has been fending off allegations of cronyism and favoritism involving HUD contractors. The FBI has [...]

Update! Despite earlier reports, JP Morgan has raised the bid for Bear Stearns from $2.00 a share to $10.00 after major negative feedback from stockholders.  This puts JP Morgan’s ante up to roughly $1 billion.  The Fed will lend JP Morgan another $29 billion to seal the deal.  What’s in it for the Fed you [...]