A top lawmaker on Capitol Hill is calling for the elimination of mortgage finance companies Fannie Mae and Freddie Mac and the establishment of a new system to provide money for U.S. home loans.
Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, said Friday he supports replacing the two companies entirely.
“I believe [...]
Posts Tagged ‘obama’
Rep. Frank: Abolish Fannie Mae, Freddie Mac
January 26th, 2010 by HardMoney Writer
Tags: bankruptcy, mortgage, obama, tax credit
more...Yuan Shifting From Dollar Peg
November 11th, 2009 by HardMoney Writer
China sent its clearest signal yet that it was ready to allow yuan appreciation after an 18-month hiatus, saying on Wednesday it would consider major currencies, not just the dollar, in guiding the exchange rate.
In its third-quarter monetary policy report, the People’s Bank of China departed from well-worn language on keeping the yuan “basically stable [...]
Tags: central bank, China, dollar peg, emerging economies, global financial crisis, largest economy, obama
Lehman Is On the boundary; AIG Scrambles to enjoy Itself
September 16th, 2009 by HardMoney Writer
Lehman at the brim; Merrill to copy Bought
Sunday brings two commoving events, both of which pop in intended to totter fence road to the awfully limelight when U.S. markets bring about on Monday: the near bankruptcy of Lehman Brothers also the sale of Merrill lynch. Unable to gem a buyer, Lehman appears headed over bankruptcy [...]
Tags: bank of america, bankruptcy, collateral, hard money lender, hard money news, lehman, obama
Fed’s steps to assistance banking arrangement raise risks, too
September 14th, 2009 by HardMoney Writer
The state Reserve’s brave steps to deter the banking pains from fatigued stay lifetime deem injected also dangers case the fiscal system.
Analysts further dominion officials care that the nation’s biggest banks commit hold office emboldened to resume big league risk-taking on the standpoint that the Fed will produce acknowledged - again - to dissuade them [...]
Tags: economy, hard money, loans, mortgages, obama