Just as Bank of America was winning approval to take ownership of Countrywide, Illinois and California filed lawsuits against the mortgage lender for allowing borrowers to take on loans beyond their means. Jeff Tyler reports.
The state of Illinois is suing Countrywide for unfair and deceptive business practices, claiming the lender designed mortgage products with Wall Street in mind. Steve Henn reports other accusations against the company.
On July 1, California starts cracking down on drivers caught with their hands on a cell phone, a move that has accessory manufacturers counting down the days. Rob Schmitz reports.
With Bear Stearns hedge fund managers facing charges of fraud, could other mortgage-backed securities with Wall Street connections be next? Ashley Milne-Tyte reports more criminal charges could be on the way.
A revamped FISA law could shield them from liability could shield U.S. phone companies from lawsuits they face for participating in a warrantless wiretapping program. Host Bob Moon talks with New York Times reporter Eric Lichtblau about the bill's chances of passing.
Two Bear Stearns hedge fund managers have been charged with fraud for allegedly lying to investors about problems within the bank prior to its billion-dollar collapse. What effect will their arrests have on Wall Street's credibility? Jill Barshay reports.
A Brooklyn construction site owner is being charged with manslaughter after the death of one of his workers on the job this week. Alisa Roth looks into whether this will encourage employers to make work safety a priority.
Many Zimbabweans rely on the efforts of international food aid to sustain themselves, but President Robert Mugawe is starting to forbid access to these supplies based on a political agenda. Jeremy Hobson has more.
Congress is trying to gauge the future financial fallout of the wars in Afghanistan and Iraq, which includes counseling for soldiers with post-traumatic stress or depression. Steve Henn crunches some numbers.
