The Real Deal Miami

HUD secretary expected to resign

March 31, 2008 01:36PM

Housing and Urban Development Secretary Alphonso Jackson was expected
to announce his resignation today, leaving President Bush without a key
cabinet member as the administration tries to tackle the housing
crisis. While the exact reasons for his resignation are unknown, two
Democratic senators sent a letter to Bush earlier this month, calling
for Jackson to resign over accusations of wrongdoing. HUD runs the
Federal Housing Administration, which both parties see as playing a
bigger role in stabilizing the mortgage market.