A hedge fund hoping to capitalize on the comeback of Fannie Mae and Freddie Mac claims in a lawsuit the government illegally seized the profits of the two mortgage finance giants.
The suit, filed Sunday by Perry Capital LLC, says the government violated a 2008 law that put Fannie and Freddie into conservatorship, through an amendment changing the terms of the government’s bailout.
Everyone makes mistakes. The best thing one can do is face up to the facts and acknowledge the error; fix the problem to the extent possible and do what is necessary to avoid repeating the mistake. Ben Bernanke’s inability to admit his (and his pr…
When the federal government guarantees a student loan, that loan is subject to accounting treatment that was established by the 1990 Fair Credit and Reporting Act (FCRA). It should come as no surprise that the FCRA methodology is not “fair” at all….
Who is leading the charge to change the laws?
Illegal? Or beautifully designed to prevent criminal prosecutions?
Generations of of the best and brightest from the lawa schools made sure criminal prosecutions would fail…..
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Occupy Everything
“Recession Officially Over,” The New York Times’ lead headline declared around 7 o’clock this morning. (Watch: they’ll change it.) That was Part A. Part B said, “US Incomes Kept Falling.” Welcome to What-The-Fuck Nation. I suppose…
September 8, 2011, 10:00 pm
Legal/Regulatory
Settlement Said to Be Near for Fannie and Freddie
By BEN PROTESS and AZAM AHMED
Daniel Rosenbaum for The New York Times
Robert Khuzami, the Securities and Exchange Commission enforcement chief, is said to h…
FEDERAL HOUSING FINANCE AGENCY
STATEMENT
For Immediate Release Contact: Corinne Russell (202) 414-6921
September 6, 2011 Stefanie Johnson (202) 414-6376
Federal Housing Finance Agency Statement on
Recent Lawsuits Filed
Upon review of media coverage…
SEPTEMBER 5, 2011, 1:26 P.M. ET.
Europe Stocks Slammed; Germany Drops More Than 5%
By Barbara Kollmeyer and Toby Anderson
European stocks plunged Monday and the euro tumbled, as investors piled into safe-haven assets amid rising fears over Europe’s …
NEW HAVEN – The Chinese have long admired America’s economic dynamism. But they have lost confidence in America’s government and its dysfunctional economic stewardship. That message came through loud and clear in my recent travels to Beijing, …
Inadequate Loan Loss Reserves: You Read It Here First
June 30th, 2011
By David Goldman
“Bad Mortgages Weigh on Banks” is the headline of Nick Timiraos’ WSJ report that nearly 20% of US banks’ mortgage holdings are delinquent.
U.S. banks hol…
