The Obama Administration may have already announced their $275 billion mortgage bailout plan, but that doesn’t mean they have any clue as to how it will actually work. The Washington Post reports: The administration is developing a standard for lenders to use in evaluating applicants that seeks to exclude homeowners …
The nation’s outrage over the never ending Bush-Obama Bailout Parade is heating up fast. This week alone we’ve seen grassroots rallies in Seattle, Denver, Mesa, and Kansas. Then yesterday, CNBC editor Rick Santelli set off a virtual firestorm when his passionate critique of President Barack Obama’s mortgage bailout plan inspired …
We don’t know what reality the New York Times editorial board lives in, but it is definitely not the same one Los Angels Times hard news reporters operate in. Today the NYT editorializes: In an election year, sound policy making is almost always trumped by political posturing, making the situation …
Throughout the entire housing bail out debate conservatives repeatedly warned Congress not to include the creation of a $4 billion National Housing Trust Fund in the final legislative package. They didn’t listen. Now corrupt, fraudulent and partisan groups like ACORN (Association of Community Organizations for Reform Now) have a permanent …
Recently, a scandal has broken out that provides great insight into the housing crisis. Countrywide Mortgage brokers have been treating Congress to VIP lending rates. Accepting donations of $100 or more is illegal for these politicians, but scandals like this are not uncommon. The deeper question is why a profit-seeking …
Anticipating legislative action on a bailout for Fannie Mae and Freddie Mac in the House tomorrow, the White House reaffirmed a veto threat Monday if the proposed package includes a money for state and local governments to buy real estate. Speaker Nancy Pelosi responded, “Let me get this straight. The …
The Washington Post makes a great case today for separating the left’s long sought housing bailout bill with the more pressing debate over long term reform for Fannie Mae and Freddie Mac They write today: Democratic leaders in Congress plan to attach the Fannie-Freddie rescue to housing legislation already passed …
The government-sponsored entities Freddie Mac and Fannie Mae are so neck deep in the subprime housing crisis that now the White House is considering putting them into conservatorship. Despite fears that both companies do not have enough capital to cover their liabilities, the Senate passed a bill yesterday that would …
