President Barack Obama looked to steer the nation's economic attention back to the big picture Tuesday night, away from recent days' micro-focus on outrage over bonuses paid to executives of the federally rescued insurance giant AIG.
The Obama administration aimed squarely at the crisis clogging the nation's credit system Monday with a plan to take over up to $1 trillion in sour mortgage securities with the help of private investors.
With the 2010 census looming, tens of millions of residents in mostly dense urban areas such as Los Angeles and New York are at high risk of being missed due to language problems and a deepening economic crisis, government officials said Monday.
The Obama administration launched a new effort Monday to end a paralysis in lending, saying it will team with investors to initially sop up to half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies.
Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.