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Freddie Mac
Obama Plan Would Shrink Government 'Footprint' in Housing Market
By Politics Daily Staff - Politics DailyLending giants Fannie Mae and Freddie Mac would be phased out under an Obama administration plan that would dramatically shrink the federal government's role in the housing market. Fannie and Freddie, federally chartered enterprises that buy and guarantee mortgages, are in hock to taxpayers for some $145 million. Critics say the two companies were among the culprits in the 2008 financial crisis brought on, in part, by a wave of home foreclosures. Some Republicans want to get rid of both companies. Related Stories Fannie Mae, Freddie Mac Get the Boot from Stock ...
Obama Overhaul of Housing Finance Would Scuttle Fannie, Freddie
By Joseph Schuman - AOL NewsThe Obama administration today sent to Congress proposals to reduce government support for the home finance market, a series of ambitious if sketchy and protracted moves that would wind down the federally backed mortgage giants Fannie Mae and Freddie Mac. The 32-page plan outlines steps to make room for more private capital while reducing the role of Fannie and Freddie -- known as government-sponsored enterprises -- in the market for funding loans to prospective home buyers. "This is a plan for fundamental reform -- to wind down the GSEs, strengthen consumer protection and preserve access to ...
Opinion: Abolish Fannie and Freddie
By not in system - AOL NewsWhen the Obama administration issues its report about the future of Fannie Mae and Freddie Mac -- expected later this week -- it is sure to set off another round of debate about what to do with these giant mortgage companies. During the depths of the financial crisis, there was plenty of brave talk from Democrats and Republicans about reforming the two companies. But now, as we have arisen from the worst of it, there is much less talk on both sides of the aisle of radical reform and much more talk of going forward with business as usual. But when it comes to Fannie and Freddie, radical ...
Financial Crisis Report Spreads Blame Far and Wide for Meltdown
By Tom Kavanagh - Politics DailyThere's plenty of blame to spread around -- and the financial crisis was avoidable. In a nutshell, that's the conclusion of a report released Thursday by the Financial Crisis Inquiry Commission, a congressionally appointed body that explored reasons for the 2007-08 meltdown that led to the worst economic crisis since the Great Depression. From government regulators and policymakers to Wall Street's power players, the 633-page report cites a vast of array of contributors to the near-disaster, the effects of which still grip the nation. "A crisis of this magnitude cannot be the work of a few ...
Federal Panel Finds Financial Crisis Was Avoidable
By not in system - AOL NewsWASHINGTON -- The government-appointed panel investigating the roots of the financial crisis says the meltdown occurred because government officials and Wall Street executives ignored warning signs and failed to manage risks. The crisis could have been avoided, the Financial Crisis Inquiry Commission determined in a final report released Thursday that was only supported by Democrats on the panel. Instead the country fell into the deepest recession since the 1930s and millions of people lost their jobs, the congressionally appointed panel concluded. The Bush and Clinton administrations, the ...
Obama Foe Darrell Issa Sets House Oversight Agenda, Targets WikiLeaks
By Tom Kavanagh - Politics DailyRep. Darrell Issa, who has been quick to assail the "corruption" of the Obama administration, will be a busy man once the 112th Congress convenes on Wednesday. The California Republican, who will take the reins of the House Oversight and Government Reform Committee, has ambitious plans for that panel, from going after WikiLeaks to investigating Fannie Mae and Freddie Mac, the government-sponsored mortgage giants. An outline of the committee's expected hearing topics, reported by Politico, shows that it intends "to investigate how regulation impacts job creation, the role of Fannie Mae and ...
Top Financial Stories of 2010: Foreclosures, Financial Reform, Bailouts
By Joann M. Weiner - Politics DailyThe ongoing recession and sustained high unemployment have pushed aside the near-collapse of the financial sector as a front-burner worry for Americans. And yet, developments in the financial world are still creating uncertainty and trouble for the world economy. Looking back, here are the five most important -- in some cases troubling -- financial stories of 2010. 1. Foreclosure Fiasco: Robo-Signers, Break-Ins, and the Continuing Housing Slump The foreclosure debacle dominated the financial news last fall with reports of "robo-signings" by employees who approved foreclosures without even ...
One on One With Brandon Rios
By Elie Seckbach - AOL NewsElie Seckbach, the Embedded Correspondent, brings his exclusive video reporting to FanHouse. Check back regularly for more videos. Lightweight (135 pounds) Brandon Rios will face Omri Lowther on the under card of Saturday night's HBO pay per view televised, WBC junior middleweight (154 pounds) clash between WBO welterweight (147 pounds) titlist Manny Pacquiao and ex-champion Antonio Margarito at the Dallas Cowboys Stadium. Rios and Margarito are training stablemates under Robert Garcia, and in their ongoing rivalry with Pacquiao and his trainer, Freddie Roach, Rios has some harsh ...
From Bad to Worse? A Foreclosure Crisis Primer
By Joseph Schuman - AOL News
(Oct. 15) -- The American housing mess just keeps getting messier. Even as federal and state governments ratchet up investigations into the way banks and the mortgage-servicing industry move to seize the homes of owners who failed to make payments, the pace of foreclosures is picking up. And just over two years after a meltdown in the subprime mortgage market cascaded into a full-blown global financial crisis, a wave of bad news on the real estate front is adding to an already bleak outlook for an economic recovery that has been faltering and an American housing market that never got back on ...
Opinion: GOP's Pledge Misses the Mark
By Bob Maistros - AOL News(Sept. 23) -- Congressional Republicans have maintained that their "Pledge to America" would not be another "Contract with America." That's for sure. In the same sense that Dan Quayle was "no Jack Kennedy." The 1994 Contract was a masterpiece of political communication that rocked the nation by laying out in clear, simple language eight straightforward action steps and 10 specific pieces of legislation Republicans in Congress would enact if handed control after four decades out of power. It was a timely, smart and taut political manifesto -- just two pages long and easily digestible. The ...
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