Refinancing Help Won't Erase Borrowers' Problems August 31, 2007 • Treasury Secretary Henry Paulson says the steps the Bush administration is taking will help identify mortgage holders who might have problems down the line. He says the government cannot make the problems go away, but it can try to help those who are capable of owning a home refinance their loans.
Economy Bernanke Speech Fuels Expectations of Rate Cut August 31, 2007 • Lenders and investors whose poor decisions helped foster the current deepening mortgage crisis in America should not expect all their mistakes to be absolved by the Federal Reserve, Ben Bernanke said. But the Fed chairman said the central bank will act to limit the fallout from the credit debacle.
Science Gasoline Expands in Heat, and Energy Slips Away August 31, 2007 • When drivers fill up their tanks in Arizona or California, they see a dollar or more evaporate. The gasoline expands in the heat. So there's less energy in a tank of 100-degree gas than there is in a tank of 70-degree gas.
Economy Feds to Bolster Housing Market as Crisis Grows August 31, 2007 • President Bush will announce the administration's first steps to ease the subprime mortgage crisis, after more bad housing news this week: Mortgage rates are going up, and the number of unsold properties is rising. Some of the problems began when borrowers took on loans they couldn't repay.
Bush Administration to Stem Mortgage Fallout August 31, 2007 • President Bush plans to announce steps to help families hit by the subprime mortgage crisis meet the rising costs of their housing loans. He says he'll ask the Federal Housing Administration to guarantee loans for delinquent borrowers.
Economy Businesses Blame Slow Sales on Housing August 30, 2007 • Newsweek columnist Daniel Gross says a lot of people use home equity to buy big-ticket items, such as boats and cars, and those industries are already blaming a downturn in business on the problems in the housing market.
Business 'Marketplace' Report: Rising Rents August 30, 2007 • According to a study released Thursday by the Center for Housing Policy, the number of people shelling out more than half their income to landlords has doubled over the past decade. The problem is expected to get worse as rents continue to rise and foreclosures force home owners into apartments.
Ben Franklins Will Get a Security Makeover August 29, 2007 • The $100 bill is in for a facelift. And when it emerges, Ben Franklin will sport some new threads — security threads, that is. A security strip made by Dalton, Mass.-based Crane and Co. will likely be in the newest version of the $100 bill.
U.S. Workers Gain Leisure Time, Study Says August 29, 2007 • Despite its label of the "no vacation-nation," leisure time in the United States has actually increased in the last 40 years, according to a new study. Men work less in the market than they used to. And women have gained leisure time, thanks to declines in work they do in the home.
Business Geyser Lodge Owners Face Profitability Problems August 28, 2007 • Many people dream of opening a bed and breakfast somewhere in the countryside. But it's not an easy business unless you have some outside income. The story of Geyser Lodge is part of a series of stories on how people in business for themselves make ends meet.
The Color of Money Getting the Best Price for College Textbooks August 28, 2007 • Every parent knows that sending your kid to college is going to cost a lot. But many parents and students are feeling sticker shock when it comes to the price of textbooks. A Government Accountability Office report found that in the past two decades college textbook prices have increased at twice the rate of inflation.
Diversions Change Jars Preferred for Saving August 28, 2007 • A survey by Capital One Financial shows only 35 percent of Americans have a money market account. Americans are more likely to put their money in a piggy bank. But the most common method is a change jar. It won't earn you any interest. But at least the change jar is free, unlike the piggy bank.
Investors Look to Profit from Mortgage Woes August 28, 2007 • A letter from a New York hedge fund invites readers to "capitalize from the carnage," in the subprime mortgage industry, according to a Web site for investors. That means investing in mortgages at fire-sale prices. And plenty of investors are looking to profit from problems in the mortgage industry.
Technology Online Gambling's American Underworld August 27, 2007 • The cards are digital but the cash is real in online gambling. There's a fortune being won, and lost, on the Web, even though it's illegal in the United States.
Subprime Crisis Makes It Maddening to Sell a House August 24, 2007 • As the subprime mortgage crisis deepens, the summer of 2007 has become a gut-wrenching time to sell a home. Real estate prices keep falling. Potential buyers, who are being squeezed by rising interest rates and tighter lending rules, seem content to wait on the sidelines.