Tag Archives: Freddie Mac
Location Location
U.S. taxpayers live in a bad neighborhood. Now the good neighbor, FHA, may be headed for a bail-out. FHA is $16 billion in the hole – we’re $16 trillion in the hole. How does that work?
Game Plan
After three years of anger over ObamaCare and the housing crisis, the Republican nomination is boiling down to RomneyCare vs The Freddie Mac water boy. Here’s Krauthammer.
Newt Loot
As surprise front-runner Newt Gingrich begins unpacking his baggage in Iowa the first item up for inspection is his $1.8 million dollar punched ticket on the Freddie Mac gravy train.
The figures in the chart for Franklin Raines and James Johnson are from IBD. Gorelick’s $26 mil came from CNSnews.
Real Scandal
Politico had over 90 stories last week about the Herman Cain sexual harassment allegations. It’s still unclear just what is being alleged but it doesn’t appear to include pulling down his pants and ordering a subordinate to “kiss it”. That would be the charge against President Bill Clinton from about the same era.
Oddly, women’s groups swarmed to the defense of the “lovable rogue” and, after being impeached, he weathered the storm – minus his Arkansas law license.
None of us, however (at least not the 99%), weathered the storm caused by another scandal with racial overtones. Paul Sperry reported in IBD, how Clinton pressured financial institutions to make home loans to the un-creditworthy. Meanwhile, MSN Money quotes David Weidner, of Marketwatch, saying Clinton’s biggest mistake was the repeal of Glass-Steagall.
Business Week reported this week that, after stating a $4.4 billion loss for the third quarter, Freddie Mac will seek an additional 6 billion dollar bail-out from taxpayers.
Shelter Skelter
Barney Frank, once said he wanted Fannie Mae and Freddie Mac to roll the dice for affordable housing. Now, after dusting off billions of dollars of rubble from the collapsed housing market, he wants Fannie and Freddie abolished.
