(Tax-cheat Timmy) Geithner: Dodd-Frank critics are toying with another financial meltdown
Posted by admin / Under Frank Livingstone
Geithner: Dodd-Frank critics are toying with another financial meltdownBy Peter Schroeder - 02/02/12 04:55 PM ET Treasury Secretary Timothy Geithner swung back at critics of the Dodd-Frank financial reform law Thursday, arguing that those detractors are pushing for a repeat of the financial crisis. Both in Congress and on the campaign trail, the Obama administration's reforms have come under fire. Lawmakers are pushing several bills that would repeal portions of the law, and every major Republican candidate has vowed to kill it as one of their first acts in office. But Geithner said such a rollback would merely make the...
Published on Wednesday 8th of February 2012 12:39:13 PM
Rep. Barney Frank to marrylongtime partner
Posted by admin / Under Frank Livingstone
WASHINGTON — Retiring Massachusetts congressman Barney Frank, a gay pioneer in Congress, plans to marry his longtime partner Jim Ready of Maine. A spokesman for Frank confirmed Thursday that the congressman's wedding will be in Massachusetts, but said no date had been set. The Democrat announced last fall that he was retiring at the end of his 16th term.
Published on Wednesday 8th of February 2012 12:39:13 PM
Fannie and Freddie Helped Spawn the Mortgage Crisis, and So Did Affordable Housing Mandates
Posted by admin / Under Frank Livingstone
Former Fannie Mae executive Ed Pinto, who worked at the mortgage giant before it began buying up risky mortgages, has also described Fannie Mae’s key role in buying up and promoting risky sub-prime mortgages, which Fannie Mae did on a large scale, despite having a capital cushion that was tiny compared to private banks, resulting in its later insolvency and massive taxpayer bailout. A recent book about the causes of the crisis by New York Times business reporter Gretchen Morgenson and financial analyst Josh Rosner, “Reckless Endangerment,” chronicles how “it was Fannie Mae and the government housing policies it supported,...
Published on Wednesday 8th of February 2012 12:39:13 PM
Ron Paul’s Soros Defense Plan
Posted by admin / Under Frank Livingstone
It was recently observed that Ron Paul was to the left of Obama on national security and the best evidence for that statement can be found when one year ago Ron Paul joined forces with Barney Frank​ on a proposal to gut national defense via a panel of experts, quite a few of whom were tied to George Soros​. In July 2010, Barney Frank and Ron Paul co-authored a Huffington Post article rolling out their Sustainable Defense Task Force. The Task Force “consisting of experts on military expenditures that span the ideological spectrum” would recommend a trillion dollars in defense...
Published on Wednesday 8th of February 2012 12:39:13 PM
The watchdogs that didn't bark
Posted by admin / Under Frank Livingstone
Years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges point out apparent wrongdoing. The federal government has pursued few criminal cases against major lenders or senior executives for the meltdown. Finding hard evidence is difficult, the Justice Department said. The government hasn't prosecuted dubious foreclosure practices deployed since 2007 by big banks and other mortgage-servicing companies. Meanwhile, foreclosure-related case files in just one New York federal bankruptcy court hold at least 12 promissory notes bearing evidence of recently forged signatures and illegal alterations, according to a judge's rulings....
Published on Wednesday 8th of February 2012 12:39:13 PM
[CA] sues for answers from Fannie Mae, Freddie Mac on housing meltdown
Posted by admin / Under Frank Livingstone
California Atty. Gen. Kamala D. Harris is suing Fannie Mae and Freddie Mac to force the mortgage giants to answer questions about their role in California's housing meltdown. In two suits filed Tuesday in San Francisco County Superior Court, Harris seeks to compel the companies to respond to subpoenas from her office that have been ignored so far. Harris is seeking information about the practices by Fannie and Freddie in California as part of her ongoing investigation into the mortgage industry. The suits ask a judge to order the two companies to answer a set of 51 questions served in...
Published on Wednesday 8th of February 2012 12:39:13 PM
Barney Frank: Obama would win 300-plus electoral votes against Gingrich
Posted by admin / Under Frank Livingstone
Rep. Barney Frank is predicting that President Obama would easily win a general election against Newt Gingrich, but stopped short of guaranteeing that Obama would eclipse his 2008 victory. The retiring Massachusetts Democrat recently said that a Gingrich nomination “would be the best thing to happen to the Democrats since Barry Goldwater.” Asked for a prediction on electoral votes, Frank this week told The Hill, “The thing is [Gingrich] could carry most of the South.” He said Obama's count would be “in the 300s” against the Georgia Republican. To win the White House, 270 electoral votes are needed. Obama won...
Published on Wednesday 8th of February 2012 12:39:13 PM
Share this!