this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt tom: good evening and thanks for joining us. a sharp sell-off on wall street on reports big bond investors are pressuring bank of america to buy back billions of dollars of bad mortgages. susie, the group includes pimco, blackrock, and the federal reserve bank of new york. susie: tom, investors didn t like what that could mean and dumped stocks, pushing the dow back below the 11,000 level. the dow fell 165 points, the nasdaq lost 43, and the s&p 500 was off 18. shares of bank of america dropped more than 4%, even though, this morning, it reported better-than-expected quarterly earnings. tom: at issue, b-of-a may be forced to buy back part of a $47 billion pool of mortgages that was bundled and sold by its countrywide financial unit. kathy patrick represents the institutional investors and says her clients will fight to recoup their losses.
this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt tom: good evening and thanks for joining us. a sharp sell-off on wall street on reports big bond investors are pressuring bank of america to buy back billions of dollars of bad mortgages. susie, the group includes pimco, blackrock, and the federal reserve bank of new york. susie: tom, investors didn t like what that could mean and dumped stocks, pushing the dow back below the 11,000 level. the dow fell 165 points, the nasdaq lost 43, and the s&p 500 was off 18. shares of bank of america dropped more than 4%, even though, this morning, it reported better-than-expected quarterly earnings. tom: at issue, b-of-a may be forced to buy back part of a $47 billion pool of mortgages that was bundled and sold by its countrywide financial unit. kathy patrick represents the institutional investors and says her clients will fight to recoup their losses.
this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt susie: good evening everyone. the nation s top housing official said today there are no signs of systemic troubles with u.s. home mortgages. tom, that comment from housing secretary shaun donovan came in response to concerns about the impact of the foreclosure crisis on the economy. tom: susie, donovan also said the obama administration is investigating foreclosure and mortgage practices at major lenders, including j.p. morgan and bank of america. susie: he s prepared to take action to force them, if necessary, to fix paperwork problems. our stephanie dhue caught up with secretary donovan after a high-profile meeting focused on the foreclosure mess. reporter: the players were here. that s treasury secretary timothy geithner leaving a meeting that included s.e.c. chairman mary schapiro, f.d.i.c. chairman sheila bair and top justice and housing offi
this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt tom: good evening and thanks for joining us. a sharp sell-off on wall street on reports big bond investors are pressuring bank of america to buy back billions of dollars of bad mortgages. susie, the group includes pimco, blackrock, and the federal reserve bank of new york. susie: tom, investors didn t like what that could mean and dumped stocks, pushing the dow back below the 11,000 level. the dow fell 165 points, the nasdaq lost 43, and the s&p 500 was off 18. shares of bank of america dropped more than 4%, even though, this morning, it reported better-than-expected quarterly earnings. tom: at issue, b-of-a may be forced to buy back part of a $47 billion pool of mortgages that was bundled and sold by its countrywide financial unit. kathy patrick represents the institutional investors and says her clients will fight to recoup their losses.
this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt tom: good evening and thanks for joining us. a sharp sell-off on wall street on reports big bond investors are pressuring bank of america to buy back billions of dollars of bad mortgages. susie, the group includes pimco, blackrock, and the federal reserve bank of new york. susie: tom, investors didn t like what that could mean and dumped stocks, pushing the dow back below the 11,000 level. the dow fell 165 points, the nasdaq lost 43, and the s&p 500 was off 18. shares of bank of america dropped more than 4%, even though, this morning, it reported better-than-expected quarterly earnings. tom: at issue, b-of-a may be forced to buy back part of a $47 billion pool of mortgages that was bundled and sold by its countrywide financial unit. kathy patrick represents the institutional investors and says her clients will fight to recoup their losses.