So when Mr. Raines says that “the cause of the financial problems for Fannie and Freddie was bad decisions, not their government sponsored status,” well, let’s just say he’s not telling the whole story. via Rewriting Fannie Mae History – WSJ.com.
Mortgage Crisis
Foreclosures at record high in first half 2009 despite aid – Yahoo! News
U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated. Foreclosure filings jumped to a record 1.9 million on more than 1.5 million properties in the first six months of the year, RealtyTrac said on Thursday. The number...
YouTube – How The Democrats Caused The Financial Crisis: Starring Bill Clinton’s HUD Secretary Andrew Cuomo And Barack Obama; With Special Guest Appearances By Bill Clinton And Jimmy Carter
YouTube – How The Democrats Caused The Financial Crisis: Starring Bill Clinton’s HUD Secretary Andrew Cuomo And Barack Obama; With Special Guest Appearances By Bill Clinton And Jimmy Carter.
A Government Failure, Not a Market Failure – WSJ.com
This was a market failure, we are told, and the promise of capitalism has always been that the self-correcting mechanisms built into the system would preclude the possibility of a systemic market failure. But the housing bubble only burst after government subsidies pushed house prices up so fast that marginal buyers could no longer...
Obama Administration to Seek New Power for SEC on Executive Pay – Bloomberg.com
Obama Administration to Seek New Power for SEC on Executive Pay – Bloomberg.com. Today’s proposal, subject to congressional approval, would cover all public companies. President Barack Obama has long supported giving shareholders nonbinding votes on bonuses, salaries and severance packages. The administration also will name a “special master” to monitor compensation plans for firms...
Barney Frank Accused of Fannie Mae Conflict of Interest
Important to remember, lest we forget. Barney Frank (D) and Chris Dodd (D) shoulder more blame than ANY. FOXNews.com – Lawmaker Accused of Fannie Mae Conflict of Interest
Washington Times: AIG chiefs pressed to donate to Dodd
Washington Times – EXCLUSIVE: AIG chiefs pressed to donate to Dodd. Just to clarify for any of you not really following all of this… Step 1 – Dodd solicited donations from AIG executives on the premise that he would soon be in power over the financial services committee Step 2 – then when the...
