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Five years ago, Federal Reserve head Ben Bernanke said the housing sector wasn't a major economic concern. In fact, most experts failed to see the looming subprime mortgage crisis that sank the U.S. economy. If they were so wrong about the Great Recession, it's possible they could also be blind to a "Great Recovery."
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Two senators who have taken the lead on legislation aimed to help homeowners refinance are blunt about how concerned they are by the news NPR reported about Freddie Mac's "multibillion-dollar bets against American homeowners being able to refinance."
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When the auto industry was struggling financially, UAW and Detroit's Big Three automakers negotiated a system giving new employees lower wages and fewer benefits than employees hired before the deal was struck. Host Michel Martin speaks with a local reporter, as well as an autoworker who took a buy-out and was rehired at the same plant.
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Lawmakers and prominent economists on Monday called for changes at the taxpayer-owned mortgage company after NPR, in partnership with ProPublica, revealed that Freddie Mac has placed multibillion-dollar bets against American homeowners.
Google already offers a way to pay for lunch or groceries using its "Google Wallet" on an Android phone — cell providers and banks aren't far behind with payment systems of their own. Analyst Gilles Ubaghs talks about how coupons and convenience might persuade customers to make the switch.
