Lee Farkas, the former chairman of Taylor, Bean & Whitaker Mortgage Corp., went on trial today as the accused mastermind of a $ 1.9 billion fraud conspiracy. Looming in the background was the company’s relationship with the bailed-out federal mortgage financier, Freddie Mac.
BusinessWeek.com — Finance
Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam that caused our Economic Crisis. At a 2004 hearing see Democrat after Democrat covering up and attacking the regulations to protect Fannie Mae and Freddie Mac (their Cash Cows) that are now destroying our economy because the Democrats let them cheat.
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Bank of America Corp. said it will probably have to pay government-sponsored enterprises Fannie Mae and Freddie Mac an additional $ 230 million because of delays foreclosing on mortgages bought by the firms.
BusinessWeek.com — Finance
The Administration is counting on the private sector to fill the gap in home lending if it trims the roles of Fannie Mae and Freddie Mac
BusinessWeek.com — Finance
Analysis by Jim Rogers, Rogers Holdings Chairman; Analysis by Barton Biggs of Traxis Partners; Analysis by Robert Pozen, MFS Investment Management Chairman; Analysis by Laszlo Biriyni, Biriyni Associates President; Analysis by Howard Shapiro of Fox-Pitt K
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said government-sponsored mortgage companies Fannie Mae and Freddie Mac were “the biggest disasters of all time” and a leading cause of the U.S. financial crisis.
BusinessWeek.com — Finance
The report’s release is the opening bell for a political battle in Congress over how to fix mortgage financing
BusinessWeek.com — Finance
North Carolina Banking Commissioner Joseph A. Smith Jr. has withdrawn from consideration to be the top regulator for Fannie Mae and Freddie Mac, according to a White House statement.
BusinessWeek.com — Finance
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