http://www.msnbc.msn.com/id/27482346/
Inside the stone-and-glass headquarters of IndyMac Federal Bank, regulators are carrying out an experiment that could change the course of the financial crisis by tackling the home foreclosures that are at its root.
With the Federal Deposit Insurance Corp. at the helm of IndyMac, which was seized in July after it became one of the country's largest bank failures, regulators are attempting to create a model for reworking mortgages and rescuing homeowners.
A few major banks are also trying to tackle the home foreclosure problem, a major impediment to the nation's economic recovery. J.P. Morgan Chase yesterday said it will begin modifying mortgages under a program that could keep 400,000 families in their homes. Bank of America plans to soon start modifying an estimated 400,000 loans held by its newly acquired Countrywide Financial.
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
