Freddie Mac is a gatekeeper in the mortgage market. In many cases, the taxpayer-owned mortgage company controls who qualifies to refinance a mortgage and who doesn't. Well, NPR has learned that Freddie Mac has been making financial wagers, betting against American homeowners being able to refinance. And now some lawmakers want to put a stop to it. NPR's Chris Arnold has been reporting this story in partnership with ProPublica.org. He has this report.
One of the biggest antitrust investigations in the nation's history has led to fines of $470 million against one Japanese auto parts manufacturer and $78 million against another, the U.S. Justice Department announced today.
Many investors are expecting Facebook to file papers for an initial public offering sometime later this week. The company, which was founded in a Harvard dorm room less than a decade ago, is expected to be valued at nearly $100 billion by Wall Street.
And if these early reports are true this is shaping up to be the biggest Internet IPO ever.
European Union leaders are meeting in Brussels today to discuss the monetary union's ongoing economic crisis. According to The New York Times, the countries will decide that austerity is not enough to curb the sovereign debt crisis.