Here’s a candidate, from the AP:
A watchdog agency said Wednesday that the legal tab for former leaders of mortgage finance giants Fannie Mae and Freddie Mac is at least $110 million.
And taxpayers have paid at least $47 million of it, according to an Office of Inspector General of the Federal Housing Finance Agency [...]
While it’s a bit of a dog bites man story that the Fed is “into” central planning, it remains a bit of a surprise at times to see how far afield from its founding purposes the Fed goes. Reuters reports today that the Fed says expand Fannie, Freddie role to aid housing (h/t Zero Hedge for the [...]
Readers who followed me at my original blog, Econblogreview, may recall that about a year and a half ago, I was harping on the relative weakness of the banking stocks as a harbinger of a new economic and stock market downturn. Certainly I have been vociferous about that in these months at The Daily Capitalist. [...]
This second article on credit conditions comes from a friend of mine, Joel Maloney, a mortgage broker in Santa Barbara (805-963-1496 x124). Joel has been in this business for 30 years and has been very successful serving his clients. We were chatting about mortgage lending at a Super Bowl party and I asked him to [...]
Let us assume for the purpose of argument that our corporate bond market is and always has been backed by federal government insurance. In its many years of operations companies would float bonds at relatively low interest rates because of the government’s guarantee. Industry would be financed for their various projects, and, perhaps because of the lower [...]
The Senate passed the amendment to the financial overhaul bill to allow a one-time audit of the Fed.
The McCain bill to phase out Freddie and Fannie was shelved.
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The Senate has been busy today. First it added to the financial [...]
The Federal National Mortgage Association, fondly known as Fannie Mae, lost another $11.5 billion in the first quarter, its twelfth quarterly loss in a row, and is asking the taxpayers for another $8.4 billion to bail it out. According to the Wall Street Journal article, the company has lost $148 billion or about double the [...]
This news came out last Friday that Rep. Barney Frank, chairman of the House Financial Services Committee, was considering eliminating Fannie Mae and Freddie Mac:
“The remedy here is…as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of [...]