. >> reporter: attorney jeffrey fisher is in the middle of maryla maryland's mess. >> they have finally sort of figured out through whatever different pay up they went through, they finally figured out how to move forward in maryland. so what you're seeing now is an effort to chop into that backlog. >> reporter: new foreclosures in maryland are up 74% from a year ago and the picture isn't much better in the northeast where judges slowed the process but are plowing through past cases. >> while the forclose sure problem becomes more local, another mortgage mess is set to strike nationally, second mortgages. specifically home equity loans of credit where so many folks were using homes as atms are starting to go bad fast. >> a lot of those have what's called an end of draw period where you can no longer draw money and instead, you have to pay the period back. >> reporter: those periods are nearly ten years and most of them were taken from 2004 and 2067. for those who reached pay back time, dell link we sees are down. another ticking time bomb just as things were looking up. >>> and to read

will surprise viewers i think there's a number of officials at the fed charles plosser jeffrey lacker richard fisher who are in our film who are currently at the fed who don't like what fed policy has been portraying which i think has been support for the big banks support for the stock market ben bernanke has been very explicit about wanting stock prices to go up and recently with with their purchase of mortgage backed securities at five hundred billion dollars a year explicit support for the housing market and so there's a number of people at the fed who think this is a bad precedent this is a bad road they're going down and they would like the fed to get off that road and to unwind q e to stop talking about the stock market to stop talking about the housing market to stop buying mortgages and to go back to what a tradition treated the central bank more traditionally does because you could argue that their policies today are designed for you know massive crisis and right now we're not in a massive crisis so really it represents subsidies to certain groups in the economy and historically you know w

we have jeffrey lacker and james bullard and richard fisher. just a few earnings reports. pep boys and the ski resort operator vail resorts. made me think it's time to go skiing. >>> u.s. futures right now, they are predicting a slightly higher start. we snapped eight weeks of gains last week for the s&p and the dow. a strong finish on friday, the dow up 1.2%. the s&p up 1.8%. the dow is above 5 points. the nasdaq six points above fair value. it was just about positive on friday. >>> still to come, cleared for takeoff. american airlines and u.s. airways move one step closer to their megamerger. we'll look at what's soet to become the world's biggest carrier. hi honey, did you get the toaster cozy? yep. got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. so i knit until it was full. you'd be crazy not to. is that nana? [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. every weekend worked, every idea sold... ♪ you deserve a cadillac, the fastest growing full-line luxury brand i