The mortgage giants Fannie Mae and Freddie Mac got hit so hard by the housing crisis that they required a massive federal rescue. Now lawmakers are looking to scale back the two entities' role — and the government's — in the mortgage market.
The Senate Banking Committee is expected to vote Thursday on President Obama's nominee to head the agency that oversees Fannie and Freddie.
At Philz Coffee in Palo Alto, Calif., a kid who looks like he should still be in high school is sitting across from me. He's wearing Google Glass. As I stare into the device's cyborg eye, I'm waiting for its tiny screen to light up.
Then, I wait for a signal that Google Glass has recognized my face.
There's been excitement on Wall Street about a turnaround at Yahoo since Marissa Mayer became head of the company last year. Mayer has completed high profile acquisitions and sought to improve worker morale. Second quarter revenues missed expectations as Yahoo struggled to corral advertising dollars.
Greece's two largest unions held a general strike and anti-austerity demonstrations on Tuesday. Now, the country's parliament will debate and vote on deep civil service cuts. Greece must downsize the public sector in order for it to keep getting international bailout loans.
It's semi-annual testimony time for Federal Reserve Chairman Ben Bernanke. Sounds dry but lots of people will be hanging on his every word these next two days. Markets have been on a wild ride since Bernanke delivered a news conference last month. In that speech he laid out plans to scale back the Fed's bond-buying program.