Fed's action gives markets some relief

Aug 17, 2007
The Fed today cut the discount rate -- what banks pay to borrow from the Fed -- by half a percentage point. Banks use it only when they're in a bind. Like the one they've been in the past couple of weeks. Jill Barshay reports.
Posted In: Economy, Housing, Investing, Wall Street

The official line: You're on your own

Aug 16, 2007
Treasury Secretary Henry Paulson and the head of the Federal Reserve bank in St. Louis had basically the same message today -- despite the market unease, there's no plan for government intervention. Bob Moon has more.
Posted In: Housing, Investing, Wall Street, Washington

Jumbo loans feel subprime weight

Aug 15, 2007
Some in Congress and the mortgage industry want the government to allow Fannie Mae and Freddie Mac to buy up bigger loans. So far, no deal. Stacey Vanek-Smith reports on how that's affecting potential homebuyers in some of the country's most expensive housing markets.
Posted In: Housing, Investing, Wall Street

What score do rating agencies get?

Aug 15, 2007
There are lots of bogeymen in the subprime crisis -- lenders, brokers, investors, even homeowners. And here's another one: credit rating agencies. Kim Clark of U.S. News and World Report explains their role.
Posted In: Housing, Investing, Wall Street

Let's just call them garbage mortgages

Aug 13, 2007
Allan Sloan says subprime is too nice a word for the high-risk mortgages that were bundled then sliced and diced and served up to investors. He says maybe they'd have thought twice before buying into garbage mortgages... or maybe not.
Posted In: Housing, Investing, Wall Street

How did we get here?

Aug 10, 2007
With markets and investors in something of a state of panic, we turn to industry insiders King Penniman and Bill O'Grady to explain what's happening and who's ultimately responsible for this mess.
Posted In: Economy, Housing, Wall Street

Betting against subprime lenders

Aug 9, 2007
Some people have been "shorting" the companies that created and financed the subprime mortgage debacle. Steve Tripoli has been asking whether there's still time for a profitable bet against the architects of subprime.
Posted In: Housing, Investing, Wall Street

Bush not pumped about gas tax

Aug 9, 2007
At a news conference, President Bush made it clear what he thinks of a higher gas tax to fix the nation's infrastructure. He also fielded a larger-than-usual array of questions about the state of the U.S. economy.
Posted In: Economy, Housing, Washington

Bear hit raises fears of debt crisis

Aug 3, 2007
Wall Street is hoping the subprime mortgage crisis won't spread. But Bear Sterns' debt rating got downrated today, and some economists aren't sure the problem has been contained. Steve Henn reports.
Posted In: Housing

A foreclosure storm on the horizon?

Aug 3, 2007
The announcement that American Home Mortgage will drastically cut operations and lay off 7,000 may be just the beginning of a crisis in the U.S. lending market. Steve Henn reports on how deep the problem goes.
Posted In: Economy, Housing