The nation’s red hot labor market cooled a bit in August, indicating that the Federal Reserve’s inflation-fighting efforts may be having the desired effect. But Fed officials aren’t declaring victory yet. Far from it.Read More
Legislation allowing bankruptcy judges to modify the terms of home mortgages, introduced, as expected, in the early days of the new Congressional session, received an unexpected boost when Citicorp broke ranks with the banking industry and withdrew its opposition to the measure.
With the blueprint for resuscitating the banking industry, for better or worse, now in place, President Barack Obama has turned his attention to the housing market, announcing a $275 billion government effort to help as many as 9 million homeowners at risk of losing their homes.