Tag: "Fannie Mae"
Don’t Look Now, but Here Comes Fannie Mae Again!
You would think, after watching our government push the housing market into a flaming pit of ruination and woe, that the last thing we’d want is a resurgent Fannie Mae sallying forth into the nation with a mission to sell more dodgy mortgages. And yet… “Buy new with $1,000 down,” the advertisement says, the words [...]
Prosecute Bailout Bad Guys? Okay, But Barney Goes First.
You know, for the first time in his entire political life, Barney Frank said something that actually made sense. I am asking very firmly the attorney general, and I’ve checked with the Judiciary committee and we have a cooperative effort here – they’ll be working on this as well…But, we’re going to have a hearing [...]
Congress Screws Up Its Oversight Role Yet Again
This is not a promising proof of the ability of Congressional Democrats to oversee the massive financial market bailout plan, like they said they could. Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing [...]
President-Elect Hypocrite
Wow, talk about “do as I say, not as I do” . WASHINGTON — Want a top job in the Obama administration? Only pack rats need apply, preferably those not packing controversy. A seven-page questionnaire being sent by the office of President-elect Barack Obama to those seeking cabinet and other high-ranking posts may be the [...]
Chris Dodd’s Sanctimony Show
Well, if John McCain won’t take a 2×4 to the Democrats over the mortgage mess, the Wall Street Journal will: The late Senator Russell Long used to say that the core truth of tax policy was “Don’t tax you, don’t tax me, tax the fellow behind the tree.” Substitute political blame for the financial meltdown [...]
“Wheeeeeee!”, Said the Stock Market
Today was one heck of a ride for the financial markets as the Dow set a record for a one-day increase, nearly doubling the former record. I swear, watching the tote board rise on CNN as I was sitting in a restaurant waiting for dinner to arrive, I thought we’d hit 1000. As it was, [...]
That’s What You Said