Tags: Bailout + Barney Frank + Congress + Economy + FDIC + Federal Reserve + financial reform + Treasury
The verdict is in on the appeal of Bloomberg News Freedom of Information Act request for Federal Reserve documents related to bailing out of the banks and justice has prevailed. The Fed must finally disclose the amounts lent, and to whom. Soon the American tax payer will know which banks would have failed [...]
March 20, 2010 - Politics - 0 Comments
Tags: Bailout + Bank of America + Citi + FDIC + Federal Reserve + Regulation + Tax + Treasury
Round three of the bailout payments have been made with Citibank, Bank of America/Merrill, and AIG getting still more taxpayer money. Implications of these payments are the policy decision not to nationalize ‘too big to fail’ financial institutions nor let them fail so that bondholders are protected.
March 9, 2009 - Economy, Markets, Politics - 0 Comments
Tags: Bailout + Bank Bailout + Congress + Emergency Bailout + FDIC + Treasury + Wall Street Bailout
Wouldn’t you think that in all the hearings before Congress somehow we would hear mention of the Government National Mortgage Association (GNMA), the mortgage behemoth that is a direct obligation of the US Government? After all GNMA guarantees only moderate income and Sub-prime loans and these are the mortgages with the highest loan default rates. [...]
October 2, 2008 - Economy, Politics - 0 Comments
Tags: Banks + creditcards + Economy + FDIC + freddiemac + GNMA + mortgage + Risk Regulator
Since the beginning of the sub-prime housing implosion, the Bush Administration has staunchly re-assured us that everything is OK. Indeed, a year ago at the White House President Bush, Treasury Secretary Paulson, Fed Chief Ben Bernanke, and Commerce Secretary Carlos Guitierrez all reassured us that this housing glitch was no problem and in any case only a minuscule part of [...]
July 15, 2008 - Politics - 0 Comments
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