Alphonso Jackson

(Newser) - With the housing market in turmoil, President Bush is turning to an investment banker-turned-bureaucrat to head HUD, the Washington Post reports. Steven Preston, 47, has run the Small Business Administration since 2006 after a stint at Lehman Brothers; he succeeds Alphonso Jackson, who announced his resignation 2 weeks ago amid...

(Newser) - HUD Secretary Alphonso Jackson resigned this morning, after a series of accusations of political favoritism. The departure marks a setback to the Bush administration's efforts to stem the housing crisis, the Wall Street Journal reports, as Jackson has been a central player on key initiatives. He cited family reasons in...