To the Point
Can Washington Contain the Mortgage Meltdown?
One of the bright spots in the national economy had been the tremendous gains in home prices and construction. President Bush has declared that his ownership society policies have worked. Now, with foreclosure rates soaring and even wealthy investors losing billions of dollars, Washington considers what it can do to rescue families losing their homes. Also, President Bush assess progress in Iraq and cooperation in North Korea. Jim Sterngold guest hosts.
By Jim Sterngold • • 1h 0m ListenOne of the bright spots in the national economy had been the tremendous gains in home prices and construction. President Bush has declared that his ownership society policies have worked. Now foreclosure rates are soaring and even wealthy investors are losing billions of dollars. As the country gears up for an election, Washington is scrambling to calm the crisis, but will politics help or make things worse?Also, President Bush travels to Baghdad to assess progress in Iraq and, on Reporter's Notebook, with North Korea backing away from nuclear confrontation, the US has to decide if this new cooperation is sincere. Jim Sterngold guest hosts.
President George W. Bush stands with Secretary Alphonso Jackson, of the Department of Housing and Urban Development, and Secretary Henry Paulson Jr, of the Department of Treasury, during a statement August 31, 2007, in the Rose Garden regarding homeownership financing. White House photo by Shealah Craighead.
In this episode
3 storiesBush Upbeat on Iraq, Which May Mean Fewer US Troops
President Bush flew to Iraq yesterday to assess for himself progress in quelling the insurgency. Next week, the top military commander will report on the success of the surge. It will be a pivotal moment for the Bush presidency, the 2008 election and the entire nation.
Read the story6 minCan Washington Contain the Mortgage Meltdown?
First it was just defaults of sub-prime mortgages, but now the turmoil of a shaky housing industry is spreading throughout the credit markets and the stock market. Experts are asking if the national economy is in trouble because of those ripples.
Read the story34 minDespite Progress in Negotiations, North Korea Ups the Ante
No country has been as consistently hostile, devious or unreliable as North Korea. The Bush Administration came into office rejecting a previous agreement to halt Pyongyang's nuclear weapons program and said the regime of Kim Jong Il could never be trusted.
Read the story9 min