From CBS News:
Housing and Urban Development (HUD) Secretary Ben Carson was quizzed at a hearing on Capitol Hill Tuesday, resulting in yet another viral moment for the cabinet official. Appearing before the House Financial Services Committee for an oversight hearing, Democratic Rep. Katie Porter asked Carson to help define what “REOs” are.
For those not in well-versed in housing terminology, “REO” stands for “real estate owned” — a term used to describe foreclosed property that has been transferred back to a bank or lender after an unsuccessful auction. Banks will typically sell REO properties as-is, meaning the buyer buys the home and all the problems along with it.
Carson, however, appeared to have misheard Porter, thinking she was referring to the delicious chocolate sandwich cookie.
From Times Online:
President Bush has been forced into an unprecedented U-turn over a pardon he recommended for a convicted fraudster after it emerged that the conman’s father had given a sizeable donation to the Republican Party this year.
Isaac Toussie, who conned hundreds of poor New Yorkers in a 2001 property fraud, was one of 19 people whose names were put forward for clemency by the outgoing President.
But after it emerged that Toussie’s father, Robert, had given $28,500 to the Republican National Committee in April – his first political donation – the Bush Administration did a rapid volte face.
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WASHINGTON (AP) — HUD Secretary Alphonso Jackson, his tenure tarnished by allegations of political favoritism and a criminal investigation, announced his resignation Monday amid the wreckage of the national housing crisis. He leaves behind a trail of unanswered questions about whether he tilted the Department of Housing and Urban Development toward Republican contractors and cronies.
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