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Barney Frank
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US foreclosure filings more than double in 2Q
The number of households facing the foreclosure process more than doubled in the second quarter compared to a year ago, according to data released Friday.
Timothy Carney: The Feds and Fannie: Making a beast that’s too big to fail
Private profit and public risk” is how economists describe companies like Fannie Mae, where good times mean shareholder profits and executive bonuses upward of $50 million, but where bad times mean pain for taxpayers. It’s nice work if you can get it.  Lawmakers move to curb Fannie Mae, Freddie Mac payDemocrats and Republicans queasy about a federal rescue of mortgage giants Fannie Mae and Freddie Mac are coalescing around the idea of letting the government slap limits on the multimillion-dollar pay packages of their executives.  Reality trumps ideology in Fannie-Freddie rescueOdd alliances are at work as President Bush and congressional Democrats band together to save Fannie Mae and Freddie Mac.  Govt OK sought for top pay at mortgage giantsCongress wants to require executives at Fannie Mae and Freddie Mac to have their pay packages approved by the government as part of a bill to throw a federal lifeline to the mortgage giants.  Fannie-Freddie lifeline puts taxpayers on the hookNow that the federal government has thrown a lifeline to mortgage giants Fannie Mae and Freddie Mac, taxpayers could be on the hook for billions more if the crisis of confidence spreads.  Fed chief: Gov't needs more power when firms failThe nation's top economic officials urged Congress on Thursday to give them new regulatory tools to better protect the country from economic and financial havoc if a major Wall Street firm were to fail.
Federal housing rescue faces new delay in Congress
A federal mortgage rescue to help hundreds of thousands of homeowners avoid foreclosure is in limbo, with the Senate about to pass a bill that has no chance of winning House approval.  Foreclosures to rise, whomever wins White HouseHome foreclosures will keep rising next year no matter who is elected president in November.
Va. county plans to buy foreclosed properties
A suburban Virginia county ravaged by the mortgage crisis plans to buy up foreclosed properties and aid first-time homebuyers who want to purchase them as part of an effort to shore up the local housing market. |
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