Budgeting political risk helped Fannie Mae, Freddie Mac, and financial services companies avoid the kind of scrutiny they needed from... View ArticleContinue reading
The Hill reports that Fannie Mae and Freddie Mac are dissolving their formidable lobbying operations (when the Office of Federal Housing Enterprise Oversight was investigating their shady accounting practices, Fannie Mae was spending $8 million a year on lobbyists, some of whom were working with Congress to derail the investigation).
The Hill reports,
When the two companies were taken over by the government, they said they would end lobbying practices that had made them a powerful force in Washington.
Still, the lost contracts could hit K Street hard.
Overall, 37 outside firms filed second-quarter reports for Fannie and Freddie, according ...Continue reading
Two years ago, I was named Time’s person of the year and now I own an insurance company, two mortgage... View ArticleContinue reading
The complete meltdown in subprime mortgages has caused a total makeover of the investment industry. The effect of the makeover... View ArticleContinue reading
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 reading
Yesterday, I was thinking about Sen. Jim DeMint’s bill to ban Fannie Mae and Freddie Mac from lobbying Congress and... View ArticleContinue reading