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Fannie Mae Freddie Mac Bailout

Whither Fannie and Freddie?

Laurence J. Kotlikoff | Posted 05.25.2011 | Business
Laurence J. Kotlikoff

Frannie and Freddie are here to connect lenders and borrowers. They aren't here to borrow money, promise to repay, and then make mortgages that are hi...

Don't Blame the Dream of Home Ownership

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

Here is a fable that is making the rounds. It is a collection of half-truths and outright lies: The financial meltdown was the result of too many people pursuing the American Dream of home ownership.

Gretchen Morgenson: Banks Bilking Taxpayers By Refusing To Buy Back Toxic Loans They Sold To Fannie And Freddie

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

From the earliest days of the credit crisis, the nation's big financial institutions have been less than forthcoming about ballooning loan losses buri...

George Soros: Fannie, Freddie Shouldn't Finance Mortgages, Bond Market Should Lend Directly To Homeowners

GEORGE SOROS | Posted 05.25.2011 | Business

With the private sector largely incapacitated, the GSEs and FHA became virtually the only source of mortgage financing. This is a paradoxical situatio...

Obama Admin Too Busy To Deal With Fannie, Freddie, Says Assistant Treasury Secretary | Zachary A. Goldfarb | Posted 05.25.2011 | Business

The Washington Post reports that according to Michael Barr, the assistant Treasury secretary for financial institutions, the Treasury Department has b...

Barney Frank: Fannie, Freddie questions safety of Fannie Mae, Freddie Mac investments | Zachary A. Goldfarb | Posted 05.25.2011 | Business

Barney Frank, the Washington Post reports, "has unexpectedly called into question the safety of investing in Fannie Mae and Freddie Mac, raising the s...

Fannie, Freddie: Obama Budget Mum On GSEs, Whose Future Remains Uncertain

CHARLES DUHIGG | Posted 05.25.2011 | Business

Fifteen months after Fannie and Freddie were effectively nationalized, neither the Obama administration nor Congressional leaders see a quick solution...

Administration Increases Fannie/Freddie Support

AP | J.W. ELPHINSTONE | Posted 05.25.2011 | Business

NEW YORK — The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. The Treasury Department said Thurs...

10 Questions The Financial Crisis Commission Must Ask

Eliot Spitzer | Posted 05.25.2011 | Business
Eliot Spitzer

The FCIC should enlist the financial industry as its research assistants. The industry should jump at the chance. The only way to reduce the frequency and damage of future crises is to find out what caused this one.

U.S. Treasury Strikes On Christmas Eve: Unlimited Taxpayer Support For Fannie Mae And Freddie Mac

Sheldon Filger | Posted 05.25.2011 | Business
Sheldon Filger

If, as Treasury originally claimed, $400 billion was more than sufficient to guarantee the security of Fannie and Freddie, why sneak in a new taxpayer commitment when nobody's looking?

Skewed Recovery

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

Angry masses see the recession as purely financial. This is false. Policy makers have rushed to address the financial crisis. This is near sighted. We have addressed one of our afflictions and left the greater economic problems under-appreciated and unaddressed.

Landmark Decision Promises Massive Relief for Homeowners and Trouble for Banks

Ellen Brown | Posted 05.25.2011 | Business
Ellen Brown

60 million mortgages with fatal defects in title could give aggrieved homeowners and securities holders the crowbar they need to exert some serious leverage on Congress.

NYT: Government Pays Legal Bills For Executives That Defrauded The Government

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Politics

As a result of the Fannie takeover, taxpayers are paying millions of dollars in legal defense bills for three top former executives, including Frankli...

Freddie Mac CEO David Moffett To Resign

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — The top executive of Freddie Mac is quitting after less than six months on the job as the company continues to hemorrhage from mort...

Fannie and Freddie Will Likely Never Return To Private Hands

New York Times | CHARLES DUHIGG | Posted 05.25.2011 | Business

Despite assurances that the takeover of Fannie Mae and Freddie Mac would be temporary, the giant mortgage companies will most likely never fully retur...

We're in a "Repression": The Economics of Shame

James Rotondi | Posted 05.25.2011 | Business
James Rotondi

Perhaps we're better off thinking of our current state of economic ennui not as a recession or a depression, but as a "repression."

Fannie Mae, Freddie Mac Hearing: Testimony, Video

Huffington Post | Posted 05.25.2011 | Business

UPDATE 12/09 at 3:21PM: HuffPost's Marcus Baram reports: Former Fannie Mae CEO Franklin Raines blamed regulators and lawmakers for encouraging the m...

Dear Hank (A Letter to the Departing Treasury Secretary)

Jacki Zehner | Posted 05.25.2011 | Business
Jacki Zehner

It has been over six years since I left Goldman Sachs where I had the honor of working for you. I am sorry that your time serving our great country was not more of a rewarding experience for you.

It's the Mortgages: How to Restore the Health and Stability of the Economy

Graciela Chichilnisky | Posted 05.25.2011 | Business
Graciela Chichilnisky

The true root cause of the financial crisis starts with the continued defaults on mortgages that magnify and snowball throughout the entire financial system.

Bailout Votes Could Hurt Congressional Candidates

AP | Dennis Conrad | Posted 05.25.2011 | Chicago

WASHINGTON - The nation's economic uncertainty is creating political uncertainty for a few Illinois politicians running for re-election. Congressiona...

Financial Bailout Stiffing Many Chicago Banks

Crain's Chicago Business | Paul Merrion | Posted 05.25.2011 | Chicago

Like many Chicago execs, Robert Glickman is studying the fine print of the $700-billion federal financial rescue plan. "I don't think they'll buy a l...

House of Cards on a Bed of Sand

Jeff Schweitzer | Posted 05.25.2011 | Business
Jeff Schweitzer

Wall Street is a casino rigged against investors sold false hope by unscrupulous companies sanctioned by government to deceive customers.

Spotlight on the House: Oversight and the Bailout

Charles A. Gonzalez | Posted 05.25.2011 | Politics
Charles A. Gonzalez

With no congressional oversight or government regulation, there was no one to ask where the emperor's clothes were.

Less Outrage -- More Repentance Please

Larry Gellman | Posted 05.25.2011 | Politics
Larry Gellman

It was appropriate that outrage be expressed during those hearings, but the criticism should have been directed from Paulson to the members of Congress.

Democrats and Republicans Made The Mortgage Crisis -- Quit The Blame Game

Stephen C. Rose | Posted 05.25.2011 | Politics
Stephen C. Rose

By Stephen C. Rose There are two key pieces of evidence in the maelstrom we are now calling a meltdown -- but which began with a mortgage crisis. The...