Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist

Journalist @baltimoresun writer artist runner #amwriting Chaplain PIO #partylikeajournalist
Journalist @baltimoresun writer artist runner #amwriting Md Troopers Assoc #20 & Westminster Md Fire Dept Chaplain PIO #partylikeajournalist
Showing posts with label Bus Econ Fannie Mae. Show all posts
Showing posts with label Bus Econ Fannie Mae. Show all posts

Tuesday, December 20, 2011

The American: Cleaning House: The Financial Crisis and the GSEs By Edward Pinto



TUESDAY, DECEMBER 20, 2011
TODAY'S FEATURE
By Edward Pinto
Disclosures contained in SEC complaints show the need for further investigation of Fannie and Freddie's characterization of subprime loans.
Read More
THE ENTERPRISE BLOG
A terrifying appraisal of Greece
By James Pethokoukis
DATAPOINTS
Throwing FDR under the Bus?
By Steve Conover
Good as Gold?
By John Steele Gordon
Immigration as Economic Renewal
By Madeline Zavodny
Why Unemployment Is Worse Than You Think
By Ike Brannon and Matt Thoman
The Class Warfare We Need
By Steve Conover
American Enterprise Institute for Public Policy Research
1150 Seventeenth Street, N.W., Washington, D.C. 20036
P: 202.862.5800 F: 202.862.7177 www.aei.org


*****

Wednesday, July 21, 2010

A Free Pass for Fannie and Freddie


July 21, 2010

A Free Pass for Fannie and Freddie

Kevin E. Dayhoff http://www.thetentacle.com/ShowArticle.cfm?mydocid=3874

Last Thursday the Obama Administration’s broad sweeping financial reform legislation edged past its final hurdle when the Senate approved the measure by a vote of 60-39.

The Consumer Protection and Regulatory Enhancement Act (H.R. 3310) is now on its way to the White House and awaits the gleeful left-handed signature of President Barack Obama.

The bill, touted by several news accounts as “ushering in the broadest overhaul of financial regulation since the Great Depression,” received almost complete opposition from Republicans who voted 38-3 against it. Democrats supported it by a vote of 57-1.

In May, The New York Times quoted Mr. Obama as saying: “The recession we’re emerging from was primarily caused by a lack of responsibility and accountability from Wall Street to Washington. That’s why I made passage of Wall Street reform one of my top priorities as president, so that a crisis like this does not happen again.”

I’m glad to hear the president report that the recession is about to be over... http://www.thetentacle.com/ShowArticle.cfm?mydocid=3874

*****

Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com

Wednesday, March 03, 2010

Networks Ignore New Request for $15 Billion Bailout for Fannie Mae


March 03, 2010 - Volume 6, Issue 9

TOP STORY

Networks Ignore New Request for $15 Billion Bailout for Fannie Mae
Mortgage-backer has bled taxpayers for more than $75 billion, but is rarely criticized by the news media.
By Julia A. Seymour

What’s another $75-billion bailout? Not much, according to the media – as long as Uncle Sam’s aid goes to a business with deep ties to the Democratic Party. Of course, that’s Fannie Mae that asked for another $15.3 billion bailout last week. While taxpayers open their wallets once again, the silence from the network news broadcasts is deafening.

VIDEO: Santelli Condemns Networks for Ignoring Removal of ‘Pig Slop’ Cap on Fannie, Freddie


COMMENTARY

Our Greecey Future
Only immediate, drastic action can keep us from a Greek-style meltdown.
By Dan Kennedy

On Feb. 24, ABC News announced it was cutting 300 jobs. Too bad Congress and the President refuse to join in recognizing reality.

COMMENTARY

Here Lies Nancy Pelosi; Will Journalists Notice
Speaker of the House changes tune about tea parties, but media don't call her on it.
By Dan Gainor

Nancy Pelosi is lying. OK, maybe that’s not a revelation. As a politician, the mere fact that she continues to breathe means she’s lying at least some of the time. You can tell politicians are lying in the United States when they have a letter after their name such as “D,” “R” or “I.”

Click here to see BMI's new Cartoon of the Week: "Really?"

*****

Kevin Dayhoff Soundtrack: http://kevindayhoff.blogspot.com/ = http://www.kevindayhoff.net/ Kevin Dayhoff Art: http://kevindayhoffart.blogspot.com/ or http://kevindayhoffart.com/ = http://www.kevindayhoff.com/ Kevin Dayhoff Westminster: http://kevindayhoffwestgov-net.blogspot.com/ or http://www.westgov.net/ = www.kevindayhoff.org Twitter: https://twitter.com/kevindayhoff Twitpic: http://twitpic.com/photos/kevindayhoff Kevin Dayhoff's The New Bedford Herald: http://kbetrue.livejournal.com/ = www.newbedfordherald.net Explore Carroll: www.explorecarroll.com The Tentacle: www.thetentacle.com

Thursday, March 26, 2009

TimesWatch Tracker: Our Latest Analysis Thursday, March 26, 2009




TimesWatch Tracker: Our Latest Analysis Thursday, March 26, 2009

TimesWatch Tracker Documenting and Exposing the Liberal Agenda of the New York Times

Amazing Omissions in Times Interview of Barney Frank
A Times writer manages to talk to Barney Frank about Fannie Mae, Freddie Mac, and an SNL skit without bringing up a single challenging question.

Free-Market Radical From Czech Republic "Embarrasses" EU Again
Once again, the Times chides a Czech Republic leader's infuriating embrace of free-market principles.

Striving to Paint a More Positive Picture of a Cop-Killer
Lovelle Mixon killed four Oakland police officers -- but was he also a victim of the California penal system?

Amazing Omissions in Times Interview of Barney Frank

http://www.timeswatch.org/articles/2009/20090326153108.aspx

A Times writer manages to talk to Barney Frank about Fannie Mae, Freddie Mac, and an SNL skit without bringing up a single challenging question.

Posted by: Clay Waters 3/26/2009 3:40:56 PM

The Times' special Deal Book section on Thursday featured a Q&A with Rep. Barney Frank by Times contributing writer Cyrus Sanati, "
Rep. Barney Frank's To-Do List for Changing Wall Street."

“Wall Street is bracing for a regulatory tsunami to make its way up from Washington. Lawmakers are considering sweeping changes to the Depression-era securities laws and regulatory agencies that failed to prevent the economic downturn.

“As these new proposals gain momentum, Representative Barney Frank, the Massachusetts Democrat who is chairman of the House Financial Services Committee, will have a central role in influencing the size and scope of these new regulations.”

That's the lead-in to an extremely friendly interview (described as "edited and condensed excerpts from the discussion") with the liberal Democrat Frank, who heads up the House Financial Services Committee and will have a hand in creating new regulations and laws on executive compensation.

Not one of Sanati's 10 questions were critical of Frank, and none delved into his controversial ties and strong defense in the past of Fannie Mae and Freddie Mac, the government-sponsored mortgage lending companies, in their quest to ease up requirements for mortgage loans in the name of "affordable housing," which many experts think contributed to the mortgage crisis.

Sanati even asked Frank a question about Fannie and Freddie, but ignored Frank's previous support of the entities, captured by the Times itself in September 2003. At a hearing, Frank lectured that "these two entities, Fannie Mae and Freddie Mac, are not facing any kind of financial crisis....The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Oops.

But Sanati ignored all that and painted Franks as some kind of Freddie and Fannie reformer:

“Sanati: Subprime mortgages played a large part in the downturn, as well as the need for the government to rescue the mortgage financing giants Freddie Mac and Fannie Mae. In an op-ed in the Financial Times in 2007, you said, “The subprime crisis demonstrates the serious negative economic and social consequences that result from too little regulation.” What have you done since to tighten regulation of that market?”

In Frank's answer, Sanati let the congressman get away with passing the buck to the Bush administration:

“Frank: We passed shortly thereafter a bill that would prevent the type of subprime mortgages that went bad. Unfortunately, it never passed the Senate. I am returning to that now. Earlier in 2007 we passed legislation to improve the regulation of Freddie Mac and Fannie Mae, but the Senate didn’t get on to passing it until July 2008 and by that time it was too late. The problem was with George Bush in power. It was hard to get the approval we needed for the degree of regulation that we thought was necessary.”

Saturday Night Live mocked Frank in a skit that aired on the network on the night of October 4, 2008, putting some blame on Frank for the banking crisis, The official online version of the skit was later controversially http://pajamasmedia.com/rogerlsimon/2008/10/07/nbc-reactionaries-ban-inconvenient-snl-sketch/ redacted by NBC in a way that removed all mention of Frank. Bizarrely, Sanati talks about a Frank' impression on SNL -- but another one, one featuring a Frank impressionist chairing the Big 3 auto hearings, which aired on November 22, 2008 and didn't attract nearly as much attention as the banking skit.

“Sanati: Many Americans have been following your committee’s hearings -- so much so that even “Saturday Night Live” did a skit about them, featuring you grilling the Big Three automakers. How do you think they did in impersonating you?”

“Frank: I am impressed with Fred Armisen’s range given that he impersonates me and Barack Obama, so I guess that’s, um, sort of interesting. The only time I was upset was when they had someone doing me that was really fat.”


20090326 TimesWatch Tracker for March 26 2009


Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/

Monday, March 23, 2009

CNN Four Fannie Mae execs to get big bonuses

I just re-read this article and I remain flabbergasted...

CNN Four Fannie Mae execs to get big bonuses

March 19, 2009

Story Highlights

By contrast, CEO gets no 2008 or 2009 compensation, bonus; CFO gets no bonus

Bonuses necessary to keep Fannie's most experienced execs, says FHFA director

Many Fannie Mae, Freddie Mac employees received pay cuts, no bonuses, he added

Baucus on news of bonuses: "Give me a break. What are these people thinking?"

NEW YORK (CNN) -- Troubled mortgage giant Fannie Mae planned to pay four top executives retention bonuses ranging from $470,000 to $611,000, according to a February SEC filing.

Executive vice presidents Kenneth Bacon, David Hisey, Michael Williams and Thomas Lund will be receiving bonuses of close to half a million dollars each. Bacon supervises community development for the company, Hisey is its deputy chief financial officer, Williams is its COO and Lund oversees the single-family mortgage business.

By contrast, Fannie Mae CFO David Johnson received no bonus on top of his salary of $625,000, while CEO Herb Allison received no compensation or bonuses in 2008 or 2009.

A spokesman for Fannie Mae deferred comment on the bonuses to the Federal Housing Finance Agency.

The bonuses were necessary to keep Fannie's most experienced executives working to reverse the effects of the mortgage crisis, FHFA Director James B. Lockhart told CNN.

Read the entire article here:
Four Fannie Mae execs to get big bonuses

CNN's Emily Anderson, Ted Barrett and CNNMoney.com's David Goldman contributed to this report.

All About
Fannie MaeFreddie Mac HoldingsMax Baucus

Links referenced within this article

Fannie Mae
http://topics.edition.cnn.com/topics/fannie_mae

Freddie Mac
http://topics.edition.cnn.com/topics/freddie_mac_holdings

Sen. Max Baucus
http://topics.edition.cnn.com/topics/max_baucus

Fannie Mae
http://topics.edition.cnn.com/topics/Fannie_Mae

Freddie Mac Holdings
http://topics.edition.cnn.com/topics/Freddie_Mac_Holdings

Max Baucus
http://topics.edition.cnn.com/topics/Max_Baucus

Find this article at: http://edition.cnn.com/2009/POLITICS/03/19/fannie.bonuses


http://edition.cnn.com/2009/POLITICS/03/19/fannie.bonuses/

20090319 Four Fannie Mae execs to get big bonuses

Kevin Dayhoff www.kevindayhoff.net http://kevindayhoff.blogspot.com/