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Obama outlines plans to dismantle Fannie Mae and Freddie Mac

Efforts to unravel housing subsidies that fuelled the financial crash reached a milestone on Tuesday as Barack Obama said the national housing recovery was now strong enough to begin dismantling federal mortgage giants Fannie Mae and Freddie Mac. In a speech in Phoenix, the epicentre of the housing bubble, the…

Fannie Mae to pay $59.4 billion back to U.S. taxpayers in move seen to forestall debt limit battle

Repayment will boost Treasury coffers ahead of 18 May expiration of political deal over national debt limit The government-backed mortgage giant Fannie Mae is to pay $59.4bn back to US taxpayers, in a move that is likely to forestall a looming battle over the federal debt limit. The mortgage finance…

Fannie Mae posts record $17.2 billion profit in 2012

Fannie Mae earned $17.2 billion in 2012, the biggest annual profit in the US mortgage giant’s history, helped by a record fourth quarter. (Manuel Balce Ceneta/AP/File) The mortgage giant Fannie Mae said it racked up its highest profit ever during…  …

Fannie Mae and Freddie Mac to begin merging operations

The regulator of mortgage finance giants Fannie Mae and Freddie Mac detailed plans Monday to begin contracting their business while merging their securitization operations. Federal Housing Finance Agency acting director Edward DeMarco said the two, rescued by the government in 2008 in a $180 billion bailout after the housing market…

Romney took $280,000 from Fannie Mae lobbyist

Former Massachusetts Gov. Mitt Romney (R) is refusing to release the names of most of the bundlers raising money for his presidential campaign, with the exception of the names of registered lobbyists as required by federal law. One bundler, Ogilvy Government Relations chairman Wayne Berman, is a registered lobbyist for…

Six former Fannie, Freddie executives sued for securities fraud

NEW YORK (Reuters) – U.S. securities regulators sued six former executives at Fannie Mae and Freddie Mac on Friday, including ex-CEOs of both mortgage finance companies, saying they misled investors over exposure to risky home loans. The U.S. Securities and Exchange Commission sued three former executives at Fannie Mae and…

Fannie Mae seeks $5.1 billion more from taxpayers

WASHINGTON (Reuters) – Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009. The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders…

McCain’s lobbyists – the web of connections

What a gem this is…go to McCainsLobbyists.Com to see how the GOP candidate has no credibility when he declares he’s going to clean up Washington of those special interests. I guess he just means the ones not on his payroll. Also worth noting… Rick Davis, campaign manager, has lobbied for…

I Think She’s A Muslim, Too

Sarah Palin believes that Fannie Mae and Freddie Mac were taxpayer-funded. They weren’t. Of course, it’s the beauty of Republican communication – what she said still speaks to a truth, which is that bloobedy blah blah taxes. I’m tempted to write a whole long thing about how the general Republican…

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