By Art Smith. Posted Tuesday, Sep 9, 2008 at 12:00 pm Filed Under: Accountability, Banks, BitsBlog, Economy, Housing, Mortgages, Stocks, TAXES, US Congress
On Sunday I shared some initial thoughts about the Fed take-over of Fannie Mae and Freddie Mac. If you read it, you know I’m not exactly happy about the outcome. My friend Bithead shared some great thoughts Monday, and I don’t disagree that something needed to be done. He and I both agree [...]
By Art Smith. Posted Sunday, Sep 7, 2008 at 8:00 pm Filed Under: Accountability, Banks, Economy, Featured, Housing, Markets, Mortgages, Stocks, TAXES, US Congress
Today US Treasury Secretary Henry Paulson announced plans for the new Federal Housing Finance Agency (FHFA) to take Freddie Mac and Fannie Mae into conservatorship. The power to do this was provided in HR 3221 which was passed in July.
The move includes replacement of the CEO of both organizations, and an infusion of about $200 [...]
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