So it appears that the federal government is implementing another destined-to-default high-risk mortgage plan. This new move is wrong-headed and dangerous, and only places more risk on the heads of American taxpayers and their children. Its simply not credible that those in charge of devising and implementing a program like this don't see what a [...]
Reuters: (Reuters) - The U.S. government-run mortgage finance firms Fannie Mae and Freddie Mac could play a bigger role in turning around the battered U.S. housing market, the Federal Reserve told Congress, a call that looks set to run into stiff political opposition. The Fed, in a paper sent to lawmakers on Wednesday, outlined an [...]
The world of political commentary (at least that part of it not campaigning for Obama’s re-election) is abuzz with excitement over a trailblazing new book that shows vividly and convincingly what happened to cause the terrible financial crisis that’s gripped the country since 2008 and—most important—who’s responsible. The book, Reckless Endangerment: How Outsized Ambition, Greed, [...]
All this bragging by the president of this amazing financial reform and then I read this in the Washington Times paper today: But as it made its way through Congress under the leadership of Sen. Christopher J. Dodd, Connecticut Democrat, and Rep. Barney Frank, Massachusetts Democrat, the bill accumulated hundreds of provisions unrelated to its [...]
