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Posts Tagged ‘Countrywide Financial’

  • Who’s Behind the Financial Meltdown?

    Posted May 7th, 2009 at 12:43pm in Ongoing Priorities 25

    The Center for Public Integrity has a new project up called The Subprime 25 that identifies the “top 25 lenders who were responsible for nearly $1 trillion of subprime loans made from 2005 through 2007. Together, the companies account for about 72 percent of high-priced loans reported to the government at the peak of the [...] More

  • Fannie and Freddie Finally in Focus

    Posted December 10th, 2008 at 10:57am in Enterprise and Free Markets 3

    At the height of the campaign season, House Oversight Committee chair Henry Waxman (D-CA) held a number of hearings on the burgeoning financial meltdown including investigations into the bankruptcy of Lehman Brothers, the bailout of AIG, The Breakdown of Credit Rating Agencies, and The Role of Federal Regulators. The purpose of all of these hearings [...] More

  • The Real Problem With Fannie and Freddie

    Posted October 20th, 2008 at 11:52am in Enterprise and Free Markets 0

    The Washington Post has a fine editorial on the current financial crisis first noting: As financial panic spread across the globe and governments scrambled to contain the damage, reality seemed to announce the doom of U.S.-style free markets and President Bush’s ideology. But this is wrong in two ways. The deregulation of U.S. financial markets did [...] More

  • Paul Krugman Is Half Right

    Posted July 14th, 2008 at 1:06pm in Ongoing Priorities 0

    Following up on his apologia for Freddie Mac and Fannie Mae today, Paul Krugman blogs: What you need to know here is that the right — the WSJ editorial page, Heritage, etc. — hates, hates, hates Fannie and Freddie. Why? Because they don’t want quasi-public entities competing with Angelo Mozilo. And it’s true: We do hate Fannie [...] More

  • Integrity of the Senate at Stake

    Posted June 23rd, 2008 at 10:06am in Ongoing Priorities 2

    The Washington Post may have shifted its coverage of the Wall Street bailout bill from the front page to the business section, but the newspapers in Connecticut, Sen. Chris Dodd’s home state, are rightly keeping up scrutiny of the relationship between the Democratic senator and the banks that would benefit directly from Dodd’s bill. The Hartford [...] More

  • Bank of America Drafted Dodd’s Housing Bailout Bill

    Posted June 20th, 2008 at 12:47pm in Ongoing Priorities 15

    The Washington Examiner has obtained a “confidential and proprietary” document produced by Bank of America and titled “FHA Housing Stabilization and Homeownership Retention Act of 2008.” The “Discussion Document” dated March 11, 2008, closely resembles the housing bailout bill drafted by Sen. Chris Dodd (D-Conn.) that the Senate is set to vote on within days. [...] More

  • Remember Who Gets the Checks

    Posted June 18th, 2008 at 9:16am in Ongoing Priorities 0

    Despite the fact that Sen. Chris Dodd (D-Conn.) now admits he was a Countrywide Financial “VIP” since 1993, Congress is still barreling ahead with the $300 billion housing bailout bill that Dodd sponsored. The important thing to remember as the debate over this massive bailout continues is that this bill is really a bailout of Wall [...] More

  • The Countrywide Bailout Explained

    Posted June 13th, 2008 at 11:07am in Enterprise and Free Markets 2

    We have been calling Sen. Chris Dodd’s (D-CT) housing bailout bill “The Wall Street Bailout Enhancement Act” for over a month now. In particular, we have singled out Countrywide Financial as the bank with most to gain from the federal government’s generosity. Countrywide is the largest loan servicer in the nation. It has been accused [...] More

  • Morning Bell: The Wall Street Bailout Enhancement Act

    Posted May 12th, 2008 at 8:57am in Enterprise and Free Markets 1

    During the debate on the housing bailout bill last week, Democrats consistently justified their “American Housing Rescue and Foreclosure Prevention Act” by citing the Treasury Department’s involvement in JP Morgan’s purchase of Bear Stearns. Bill sponsor Rep. Barney Frank (D-Mass.) was typical: You didn’t get an answer on how the Bush administration, which strongly supported Bear [...] More