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
Tags: Banks + Comptroller + Economy + FDIC + Fed + GNMA + Treasury
This week the credit markets again seized up culminating in across-the-board sell-offs of mortgage-backed security holding entities. Thornburg Mtg reportedly was forced to liquidate some high quality mortgages at 70 cents on the dollar to meet margin calls. Soon thereafter Carlyle
March 7, 2008 - Politics - 0 Comments
Tags: Ambac + FDIC + Interest Rates + MBIA + Treasury
Federal Reserve Chairman Bernanke responded appropriately to again lower the Federal Funds and Discount rates yesterday in an effort to thwart bank failures—creating generous loan spread to boost bank profitability. By again
January 31, 2008 - Politics - 0 Comments
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