Two years ago, I was named Time’s person of the year and now I own an insurance company, two mortgage... View Article
Continue readingWall Street to Washington
The complete meltdown in subprime mortgages has caused a total makeover of the investment industry. The effect of the makeover... View Article
Continue readingCRP tracks beneficiaries of belly-up banks
Our friends at the Center for Responsive Politics have been doing yeoman's work compiling lists of the politicians who've received the most money over the years from political action committees and employees and their family members of the big financial colossi that are seeking (or having imposed on them) federal help to stave off collapse. Their Lehman Brothers list is here while Fannie Mae and Freddie Mac are ">here.
To see who in Congress invested in these operations, CRP has compiled an analysis of Freddie and Fannie holdings here; you can also dig into search results for Lehman ...
Continue readingGovernment Takeover to Roil K Street
Yesterday, I was thinking about Sen. Jim DeMint’s bill to ban Fannie Mae and Freddie Mac from lobbying Congress and... View Article
Continue readingFannie Mae Didn’t Just Pay Its Execs
There’s another side to the stories today about accounting fraud at Fannie Mae, the quasi-government corporation that insures mortgages – and that is that during the period when the fraud was alleged to take place, the company was one of the biggest soft money donors in the nation.
Beginning in 1997, and continuing through late 2002, Fannie Mae contributed some $3.5 million to national political party committees, according to records compiled by the Center for Responsive Politics. The money was split almost equally between the Democratic (47%) and Republican (53%) parties.
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