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Mortgage Giant Places Bets Against Homeowners

NPR and ProPublica have found that Freddie Mac, the giant government-owned mortgage company, has been placing financial bets against homeowners. Specifically, Freddie Mac has made targeted investments that pay off if homeowners are unable to refinance their mortgages. At the same time, Freddie has been making it harder for many homeowners to get new loans.
WAMU 88.5

Audit Shows $240M Budget Surplus In D.C.

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After several years of financial difficulty, D.C. is back in the black after posting a large budget surplus to the tune of $240 million.

NPR

As Homeowners Struggle, Freddie Mac Benefits

An investigation by ProPublica and NPR finds that Freddie Mac has invested billions of dollars in bets against struggling homeowners. Public records show that Freddie Mac, in a potential conflict of interest, sought to make gains when homeowners failed to qualify for refinancing.
NPR

EU Struggles To Solve Greek Debt Crisis

Greek officials have been working with private lenders to try to reduce their debt-load. Meanwhile European Union officials are in Brussels to deal with the financial crisis. Renee Montagne talks to Zanny Minton Beddoes, an editor at The Economist, for an update on the crisis.
NPR

Tennessee Gov. Haslam Proposes Modest Tax Cuts

With no income tax, Tennessee lives and dies by the sales tax. Revenues have increased each of the last 21 months, but the budget still isn't where it was five years ago. Still, Gov. Bill Haslam has proposed lowering the tax on food and trimming back the estate tax.
WAMU 88.5

Ocean City Considers Horseback Riding On Beaches

Ocean City officials are considering allowing horseback riding on its beaches in an effort to increase tourism during the off-season.

NPR

Made In The USA: Saving The American Brand

Kodak, an iconic American brand that helped build the town of Rochester, N.Y., recently filed for bankruptcy, due in part to competition from foreign manufacturers. The U.S. auto industry went through a similar upheaval a few years ago. But the Big Three are booming again, thanks to a federal bailout and restructuring. Can other American brands also be saved?
NPR

GM CEO: No Apologies For Accepting U.S. Bailout

Three years ago, General Motors was hemorrhaging money until the government decided to bail it out. Today, the company is thriving. GM's CEO Daniel Akerson talks about the resurgence.

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