Dueling Bailout Law Violations
Posted by Jim Harper
Make no mistake, if banks were to use bailout money to pay dividends, it would be an offense to the taxpayers who thought their money was going to be used for lending. And House Financial Services Committee Chairman Barney Frank (D-MA) is right to object to that possibility.
But the statement he released Friday is [...]
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Feds Take Control of Fannie Mae, Freddie Mac
Posted by Jim Harper
[Update: The Federal Housing Finance Agency discussed below was created by Title III of Public Law 110-289, the Foreclosure Prevention Act of 2008. This legislation is not linked to H.R. 1427 in the Library of Congress' legislative database so I missed the fact that a version of the bill had passed. I sometimes [...]
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