freddie mac
The Expectations Game and the Government’s Mortgage Plan
The plan for Fannie Mae and Freddie Mac to streamline mortgage modifications for troubled homeowners has already come in for some harsh criticism. Federal Deposit Insurance Corp. chairwoman Sheila Bair, in particular, has been outspoken in her opposition.
That’s important, because Bair is the leading proponent of massive restructurings of mortgages. She wants Treasury to move [...]
Another Job for Washington
Congress and the president rushed to rescue the financial system with a $700-billion bailout. Now they need to turn their attention to the housing front, where foreclosures continue to mount. One proposed solution: modify the terms of existing mortgages.
Waxman to Greenspan: Were You Wrong?
“Partially,” answered Alan Greenspan, the former oracle and maestro of the Federal Reserve between 1987-2006.
The House Oversight and Government Reform Committee held a great hearing yesterday on the role that the credit rating agencies played in the financial system’s meltdown. Today’s hearing on federal regulators on Wall Street has been more theater so far.
Bailout Smackdown
Democrats and Republicans came together for the Wall Street rescue. But as they begin deliberations on long-term reforms, both seem to be prepping for a heated partisan battle.
Reversal of Fortune: Wall Street Merging With Main Street
A spate of gigantic mergers sparked by the recent global crisis has overnight reordered the American economic landscape — if not America itself.
GOP Line on Financial Crisis: Blame the GSE’s
The House oversight committee is holding a hearing now on the collapse of Lehman Bros. and the financial crisis generally. This hearing– and four others– will likely provide hints of how Congress, post-bailout bill, will try to revamp how the government polices Wall Street.
The committee has produced internal Lehman Bros. documents that show Lehman CEO [...]
McCain Chief-of-Staff Lobbied for Freddie Mac
This is really getting ridiculous — but, then again, not altogether surprising.
Low-Income Borrowers Blamed in Bailout Crisis
Affordable housing goals did not spark the economic crisis — despite what conservatives say. For lenders, the lure of the subprime market was high yields.
McCain Adviser Still Officer At Lobby Firm
In the embarrassment that just won’t go away, Newsweek reports that McCain campaign manager Rick Davis — despite numerous comments to the contrary — remains an officer at the lobbying firm that bears his name, Davis Manafort.
McCain Adviser vs. New York Times
McCain senior campaign adviser Steve Schmidt had his response ready to go when reporters inevitably questioned campaign adviser Rick Davis’ $35,000 per month former position as the president of an organization set up by mortgage giants Fannie Mae and Freddie Mac to stave off increased federal regulation, as reported today by The New York Times.
Without [...]
