Today, Congress is considering extending a rule that would allow home builders to apply any current losses to tax returns up to four years back. That could set builders up for big rebates. Jeff Tyler has more.
Contributions continue to grease the political skids in Washington. Jeanne Cummings of Politico tells host Kai Ryssdal that some of the key players in the subprime mess still have enough loose change to lobby for their causes.
Citibank, the nation's biggest bank, says it lost $14 billion in the first quarter. But its assurance that it was working to climb out of the hole was good enough for investors, who bumped up its stock 4%. Bob Moon reports.
Jumbo home loans -- anything larger than $417,000 -- have become more expensive than regular mortgages. They're 7% instead of 5.9%. Now Freddie Mac has a deal with four lenders to lower the rate. Jill Barshay reports.
The number of Americans kidnapped while in Mexico doubled in 2007 from the previous year. The rise in crime has not only reduced tourism, it is affecting the future of real estate projects, such as Donald Trump's Tijuana towers. Jill Barshay reports.
Concern is growing that banks may have been hiding their distress by manipulating a key financial benchmark called the LIBOR. It's used as the basis for millions of financial transactions around the world, including mortgages and corporate loans. Stephen Beard reports.