In 2004, after a tip from a whistle blower who was later fired, the Office of Federal Housing Enterprise Oversight (Ofheo) issued a report finding that the government-sponsored entity Fannie Mae had engaged in Enron-like accounting machinations that allowed Fannie to overstate its earnings and underestimate the risk the company …
There are so many terrible parts of the housing bill being debated again in the Senate this week, but we’ll follow the lead of the Wall Street Journal and focus on just one: “affordable housing allocations.” We’ve documented before how groups like ACORN (Association of Community Organizations for Reform Now) …
The latest news out of Capitol Hill is that the Senate will take up legislation enacting a much needed update of the Foreign Intelligence Surveillance Act (FISA), pushing final passage of the mortgage bailout bill back until after the July 4th break. This should give Senators some much needed time …
As bad as the incestuous relationship between Sen. Chris Dodd’s (D-Conn.) and Countrywide Financial is, it probably is not even the worst part of the housing bailout compromise in Congress. At least the Countrywide bailout would be a one-time theft of taxpayer money (although this bailout would increase risky behavior …
Just like any organized crime group, the Association of Community Organizations for Reform Now (ACORN) has a long and established history of using fraud, deceit and intimidation to achieve its goals. ACORN uses intimidation to shake down corporations for operating funds, deceives its own employees into supporting causes they don’t …
