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 [...]

The Federal Reserve took dramatic measures this past week to try to inject a little calm amidst the concern over not only the housing market, but Wall Street and the credit crunch as well. To begin with, the Fed assisted in the sale of Bear Stearns, one of Wall Street’s biggest and most storied banks. [...]