In 2009, the Home Affordable Refinance Program was put into action to allow around 5 million homeowners to refinance. Now, only a fraction of those have been helped and the program is falling below expectations.
Are things really as bad as so many people are saying? We speak to Nobel Prize-winning economist Peter Diamond about bipartisanship, housing, and when a recovery could come.
The banking crisis, housing bubble and other financial meltdowns have caused our economy to spiral downward. But Fortune Magazine's Allan Sloan says it's the political acrimony now that's dragging down the economy.
Despite the global recession, Scotch whisky exports to the rest of the world were worth more than $2.8 billion in the first half of the year. But it might not be because of financial woes that more people are drinking up.
The situation in Greece has been rapidly deteriorating, and the government's austerity measures are sparking ongoing conflict. Now analysts fear that Greece could be the next Lehman Brothers.
Greece is coming under tougher pressure to adopt austerity measures and deal with their public debt. If not, they could be forced out of the euro zone and off the euro currency.
The jobs plan Obama is trying to push through Congress addresses the huge unemployment problem in the U.S. today. But jobs are intimately tied to housing, and the plan overlooks that ongoing crisis.
Marketplace Morning Report for Monday, September 12, 2011
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