The night before Christmas, the Treasury announced that these two bankrupt mortgage giants would get an unlimited draw on the taxpayers' dollars. This looks a lot like TARP.
New York Times | GRETCHEN MORGENSON | Posted 12.27.2009 | Business
Directors who were supposedly minding the store as disaster struck at companies like Countrywide Financial, Washington Mutual or Fannie Mae have not a...
AP | J.W. ELPHINSTONE | Posted 12.25.2009 | Business
NEW YORK — The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. The Treasury Department said Thurs...
AP | ALAN ZIBEL | Posted 12.24.2009 | Business
WASHINGTON — Federal regulators plan to disclose Thursday that the top executives of government-controlled mortgage finance companies Fannie Mae...
HuffingtonPost.com | Shahien Nasiripour | Posted 12.21.2009 | Business
The securitization of mortgage loans has been blamed for helping cause the financial crisis -- and now it seems to be complicating recovery efforts. ...
AP | Posted 12.18.2009 | Business
WASHINGTON — Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary ...
MARY WILLIAMS WALSH | Posted 12.17.2009 | Business
Even as the biggest banks repay their government debt in what is being heralded as a successful rescue program, four troubled giants of the financial ...
Huffington Post | Ryan McCarthy | Posted 12.17.2009 | Business
Those who assumed that the recent round of TARP repayments by Citigroup and Wells Fargo signaled an end to the bailout era may want to think again. ...
washingtonpost.com | Brian Grow and Zachary A. Goldfarb | Posted 12.10.2009 | Business
Lend America is hardly the only lender with a troubled record that Ginnie Mae has endorsed. The agency has provided taxpayer backing to at least 36 ot...
HuffingtonPost.com | Ryan Grim | Posted 12.02.2009 | Business
Whose fault is it that the federal agency that oversees five trillion dollars in mortgages hasn't had an independent inspector general for months? Not...
James Altucher | Posted 11.30.2009 | Business
I get it. People are angry at Goldman Sachs. But anger, particularly when misplaced, is not going to bring the economy back. Instead, how about we focus on making some money? Let's buy some stocks and enjoy the holidays.
Posted 11.26.2009 | Business
A little more than one year after the financial crisis brought the economy to a standstill -- threatening nearly every firm on Wall Street -- one thin...
The Washington Post | Robin Shulman | Posted 11.22.2009 | Business
A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. ...
HuffingtonPost.com | Ryan Grim | Posted 11.16.2009 | Politics
House Democrats are working on a rapid legislative fix that would finally put an independent watchdog in place at the agency with authority over Fanni...
Rep. Darrell Issa | Posted 11.13.2009 | Politics
Congress and the administration are addicted to using the taxpayers to prop up the flailing housing market without proper oversight. It is precisely this negligent behavior that got us into this mess.
HuffingtonPost.com | Jeff Muskus | Posted 11.11.2009 | Politics
Taxpayer money shouldn't be used to back some $6 trillion in home mortgages if there is no inspector general keeping watch over those funds, the ranki...
HuffingtonPost.com | Ryan Grim | Posted 11.13.2009 | Politics
There is no independent auditor overseeing the federal agency responsible for some $6 trillion in home mortgages, because the Department of Justice's ...
AP | ALAN ZIBEL | Posted 11.06.2009 | Business
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Project Syndicate | Brad DeLong | Posted 11.04.2009 | Business
It is worth stepping back and asking: What would the world economy look like today if policymakers had acceded to the populist demand of no support to...
nytimes.com | DAVID STREITFELD and JOHN COLLINS RUDOLF | Posted 11.03.2009 | Business
Frustrated by the banks' inability or unwillingness to stop an avalanche of foreclosures, the states are considering lawsuits over the creation and ma...
AP | JIM KUHNHENN and ANNE FLAHERTY | Posted 11.02.2009 | Business
WASHINGTON — An Obama administration plan to dissolve large, struggling financial firms rather than bail them out is encountering Republican res...
Max Fraad Wolff | Posted 10.20.2009 | Business
Despite the excitement over the stock markets, credit markets remain ground zero. They are where defaults destroy fortunes but they are also crucial to US industrial growth.
nytimes.com | LOUISE STORY | Posted 10.08.2009 | Business
WASHINGTON -- First it was Fannie Mae and Freddie Mac. Now concern is growing that another government mortgage giant might teeter, just as the nation'...
Max Fraad Wolff | Posted 11.29.2009 | Business
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.
wsj.com | Posted 11.29.2009 | Business
The Treasury has announced new "capital cushion" requirements for financial institutions to reduce excessive risk and prevent taxpayer bailouts. Seems...
Dean Baker | Posted 12.28.2009 | Business