The Obama administration's efforts to force the modifications of distressed mortgages, while laudable, is likely to fall far short because the foreclosure crisis has grown and threatens to dwarf government efforts to relieve it, a special congressional watchdog panel warned in a report released Friday.
Corporate directors don't like it when shareholders accuse them of being management cronies, but how else can they be seen when they drop the ball on basic responsibilities like leadership development and executive pay?
Talk about climbing a wall of worry. Real estate investment trusts have doubled since early March despite persistent warnings from the Federal Reserve and economists that commercial real estate could be the next big shoe to drop in the financial crisis after the residential housing bust.
Oil prices rose above $70 a barrel Thursday amid a weakening U.S. dollar, mixed crude inventory data and a decision by Nigeria's main rebel group to resume attacks next week on the country's oil industry.