HUD Secretary Expected to Resign Today
Housing and Urban Development Secretary Alphonso Jackson is expected to announce his resignation Monday, according to people familiar with the matter, a decision that will deal a blow to the Bush administration's efforts to tackle the housing crisis.
Jackson is under criminal investigation at the same time the housing industry is in a crisis so serious that it has imperiled the nation's credit markets, placing the country on the brink of what some economists predict will be a major recession.
The department has scheduled a 10 a.m. announcement Monday. The government official, who spoke on condition of anonymity ahead of the announcement, did not disclose the reason for Jackson's resignation.
Published on March 31, 2008
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