Sales of previously occupied homes in the
Gilbert has sold more than $80 million in bonds and got a slightly better interest rate than its staff anticipated. But if the housing market doesn’t rebound as the town expects it to in the next couple of years, Gilbert taxpayers could be left holding the bill. more…
WASHINGTON - A fresh effort to end the paralysis in lending was launched Monday by the Obama administration, which will join with investors to buy up around $500 billion in soured assets from banks.
But what exactly are these toxic assets the government wants to get off the banks’ books - and how did they get to be poisonous? more…
The announcement, closely stage-managed throughout the day, filled in crucial blanks in the administration’s financial-rescue package and formed what President Barack Obama called “one more critical element in our recovery.” more…