President Obama is in California, where he'll visit Marines at Camp Pendleton. On Tuesday, he spoke about housing in Phoenix. Among other items, he talked about winding down Fannie Mae and Freddie Mac, the companies that guarantee most long-term fixed-rate mortgages in the U.S.
The Justice Department is bringing civil charges against one of the nation's largest banks. The government alleges that Bank of America made false statements about the quality of home loans it sold off to investors, $850 million worth of loads. The Justice Department move is the latest in a series of cases being brought against financial firms.
NPR's Chris Arnold has been following all of this and joins us now. Good morning.
The company has been hit by a lot of losses since it was founded in 2007. But for the second quarter of this year, it says it earned nearly $9 million. Virgin America seems to be reaping the benefits of falling fuel prices and an increase in people traveling.
Originally published on Wed August 7, 2013 5:52 am
In Boston, a billionaire entrepreneur is buying the Boston Globe. John Henry is currently the owner of the Red Sox baseball team. He says he isn't interest in trying to influence the news — including the baseball coverage.