Federal and state officials are cracking down on mortgage modification scams, accusing "criminal actors" of preying on desperate borrowers caught up in the nation's housing crisis.
American taxpayers and stock owners have taken it on the chin in this financial crisis. The same can't be said of bondholders who lent money to the most troubled banks.
The Treasury Department is trying to ensure broader participation from hedge funds and other private investors in its bad asset purchase program by loosening the criteria for those who want to take part.
The nation's unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide swath of employers eliminated 663,000 jobs.