Tag Archives: barney frank

Obama Desires Big Role For Government In Mortgages

Until I read this article in yesterday’s Washington Post, I thought all sides were agreed that the federal government needed to reduce its role in the mortgage market. Fannie Mae and Freddie Mac have so far cost taxpayers $166 billion … Continue reading

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Let’s Blame The Auditors For The Housing Crash

Surely the auditors knew that something was amiss at Fannie Mae and Freddie Mac? Well, they did. The Bush administration worked hard to get these mortgage giants under control, but Barney Frank and other politicians blocked this adult supervision. As … Continue reading

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Mortgage Refinance Paperwork Shock

If you refinanced your mortgage prior to 2008 and are now looking at doing it again, you’re going to be in for a shock. There’s a lot more paperwork required. There’s more substantial proof of income required. And in all … Continue reading

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The Face Of Mortgage Security Fraud

Only one person has been prosecuted for selling mortgage-backed securities fraudulently. How aggressive has government investigation been into the crash of mortgage-backed securities? I’d think that big government would love to hang the economic crash around the necks of Wall … Continue reading

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Barney Frank Helped His Gay Lover Get A Job With Fannie Mae

When Herb Moses’s relationship with Barney Frank ended in 1998, Herb left Fannie Mae. Barney Frank made some calls to get Herb the Fannie Mae job in the first place. In the House of Representatives, Fannie Mae had few stauncher … Continue reading

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Barney Frank Knocked On His Fannie

Barney Frank can get away with anything. He had another gay lover running a prostitution service out of Barney’s office. From his Wikipedia entry: “In 1985 Frank was still closeted. That year he hired Steve Gobie, a male prostitute, and … Continue reading

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Freddie Mac Loses $20 Billion In 2010

In the fourth quarter of 2010, Freddie Mac lost $1.7 billion. The Bush administration did its best to rein in Freddie and Freddie from risky lending but Barney Frank and Congress prevented substantive change. Now taxpayers are on the hook … Continue reading

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What To Do With Fannie Mae (FNMA) and Freddie Mac (FMCC)?

The Obama administration will release its plans for Fannie Mae (FNMA) and Freddie Mac (FMCC) this month. Will the government guarantee the mortgage bonds and debt securities? That is the key question of investors. How big of a market are … Continue reading

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Tightening Regulation On Credit Ratings

One big slice of the blame for the mortgage mess is the credit rating agencies who were way off in their ratings of mortgage-backed securities. They rated a lot of stuff AAA — which means really good — that turned … Continue reading

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Democrats Considering Shielding Banks From Tougher State Laws

The Washington Post reports that Democrats are considering a bill “to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.” This approach differs from that of President Obama. He wants to give states a … Continue reading

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