Housing

At a hearing today, U.S. senators tore into the three major credit rating agencies -- Fitch, Moody's and Standard & Poors -- over their roles in the subprime meltdown. At the same time, the SEC said it's investigating conflicts of interest. Amy Scott reports.

The housing news out today was especialy bleak. Sales of existing homes fell for the sixth-straight month to the lowest point in five years. Kai Ryssdal has more.

Miami-based homebuilder Lennar suffered it's biggest lost in the company's 52-year history, causing it to cut 35 percent of its jobs. Jeremy Hobson reports more are on the way.

The White House, the Federal Reserve and Congress all have a plan to get us out of the subprime mess. Jeff Tyler goes over a few of the proposals to see which ones might stick.

Treasury Secretary Henry Paulson let it be known today that the White House has decided to consider letting Fannie Mae and Freddie Mac buy up jumbo loans, something it's been opposed to. And Fed Chairman Ben Bernanke added it better happen soon. Steve Tripoli reports.

The Fed has done its bit to help out the mortgage-induced credit crunch by lowering interest rates. Commentator Robert Reich says that's great for lenders and investors, but it won't do a thing for the little guy.

A poll out today from Reuters shows one-third of Americans believe we're heading for a recession. But who's to blame? Steve Henn did his own poll this morning in D.C.

It was no surprise that the Federal Reserve cut interest rates today. But what really caught people unawares was what rates it cut -- and by how much. Amy Scott reports.