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  • Countrywide

    Countrywide, Fannie Mae, Freddie Mac, AIG Who?

    [youtube]http://www.youtube.com/watch?v=1GoK0539Gl4[/youtube]As Congress builds its target list with any wage earner who makes over $250,000 and is even slightly tied to a company recieving TARP funds, let’s not forget who modified the $800 billion stimulus bill to formally recognize these bonuses in the first place. And this from Larry Kudlow: What … More

    Morning Bell: A Vicious Cycle of Their Own Making

    In what some observers are calling a reshaping of Wall Street, two of the world’s largest investment banks, Merrill Lynch and Lehman Brothers, are set to disappear. Lehman has announced it will file for Chapter 11 bankruptcy protection, and Merrill Lynch was bought by Bank of America. For all the … More

    Morning Bell: Big Government Fails Again

    This weekend Treasury Secretary Henry Paulson announced that mortgage giants Freddie Mac and Fannie Mae will be placed in a government conservatorship that closely resembles a bankruptcy reorganization. The move puts U.S. taxpayers on the hook for $5.4 trillion in outstanding mortgage debt and commits the government to provide as … More

    Keeping the Focus on Dodd's Deal

    Our friends at FreedomWorks are keeping the pressure on Sen. Chris Dodd (D-Conn.) for his sweetheart deal with Countrywide Financial and the housing bailout he negotiated to benefit the company. During a recent trip to Capitol Hill, the FreedomWorks team brought its Pander-bear to Union Station to shine the spotlight … More

    Morning Bell: What's the Worst Part of This Bill?

    Today the Senate is scheduled to vote on the housing bailout bill that has been circulating on Capitol Hill for so long its title today is simply “a bill to provide needed housing reform and for other purposes.” When a bill’s title includes the phrase “and for other purposes,” you know … More

    A Sound Investment

    Senate Banking Committee chairman Chris Dodd (D-CT) may not know what interest rates currently are, but the Wall Street Journal has crunched the numbers and estimates that the discount loan Countrywide Financial gave him will save him $75,000 in mortgage payments. The WSJ also looked into how much of the … More

    Why Does Dodd Get Special Deal?

    As the sponsor of a $300 billion housing bailout, you’d think liberal Sen. Chris Dodd (D-Conn.) would disclose his ties to the mortgage industry. Guess again. As coverage of Dodd’s sweetheart deal has intensified, so too have the senator’s critics. In a new video outside Dodd’s Washington, D.C., townhouse, our … More

    Investigate the Chris Dodd Bailout

    Yesterday Rep. Jeb Hensarling (R-Tex.) became the first member of Congress to call for an investigation into the relationship between Sen. Chris Dodd’s (D-Conn.) $300 billion bailout of Wall Street lenders like Countrywide Financial, and the below-market rate loans Dodd received from Countrywide. Hensarling may be the first member of … More

    The Left Does Not Understand What Free Markets Are

    Late yesterday Portfolio.com reported that a bunch of powerful Washington politicians were given below market loans by Countrywide Financial. Among those receiving “special” loans that saved them thousands of dollars were former HUD Secretary Alphonso Jackson and Senate Banking chairman Chris Dodd (D-CT). Rounding up the morning’s news for his … More

    Morning Bell: Fannie and Freddie at Core of Housing Crisis

    Jim Johnson, the man recently chosen by Sen. Barack Obama to search for a VP candidate, is under fire for receiving millions of dollars in below-market loans from Countrywide Financial Corp. chief executive Angelo Mozilo. Private entities like Countrywide are free to give generous loan agreements to whomever they want, … More