The plan to help homeowners facing foreclosure will cost $40 billion, and the money would come from the original pool of bailout money. But commentator Andrew Caplin resurrects an old idea that doesn't involve all that cash.
FDIC chair Sheila Bair is speaking to the Senate Banking Committee today on a plan to encourage banks to keep troubled homeowners in their homes. But Dan Grech reports why renegotiating mortgage terms is difficult.
Are we in a recession? A slowdown? A rebalancing? What happens next? Kai Ryssdal asks Mike Mandel, writer for BusinessWeek, and Johs Worsoe, senior executive vp, global markets, for Union Bank, for their thoughts.
Construction of new homes was expected to drop in September, but not to the lowest number in seven years. With builders and buyers unable to get loans easily, the decline is expected to continue. Mitchell Hartman reports.
Pennsylvania is experimenting with a mandatory mediation system for foreclosures that requires borrower and lender to try to work things out before a judge. But Jeff Tyler reports many don't know the program exists.
The U.S. still has an estimated 21 billion barrels waiting to be extracted. At an oil field in Los Angeles, residents are fighting one company's plan to drill under their neighborhood. Jennifer Collins has the story.