Mortgage Bust - News for the New Depression

A rising tide of ‘underwater’ homeowners 1 in 6 now owe more on their mortgage then their property is worth ...

BofA agrees to auction-rate buyback Bank of America settles with SEC and says it will repurchase $4.7 billion in auction-rate securities to allay fraud charges....

By JIM KUHNHENN – 54 minutes ago WASHINGTON (AP) — John McCain's proposal to buy up bad home mortgages would use nearly half the $700 billion from the recent Wall Street bailout package to assist Americans directly, instead of indirectly by rescuing the nation's financial markets. The ...

The Real Great Depression The depression of 1929 is the wrong model for the current economic crisis By SCOTT REYNOLDS NELSON As a historian who works on the 19th century, I have been reading my newspaper with a considerable sense of ...