6 posts tagged with fanniemae.
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We bailed you out, and now you want what!?!

Americans were angry when Wall Street’s greedy and risky behavior triggered a global financial crisis in 2008. They were angrier still when the government had to borrow and spend hundreds of billions of dollars to rescue mortgage giants Fannie Mae and Freddie Mac, the largest banks and the insurance company AIG. They were outraged when they found out that executives at those enterprises were continuing to receive big salaries and bonuses.

So just imagine how it outrageous it would be if some Wall Street sharpies went to court to argue that they didn’t benefit enough from the bailouts and that taxpayers should pay them tens of billions of dollars more. In fact, they did. And, according to legal observers, they just might prevail.


The Washington Post's Steven Pearlstein analyzes the pending lawsuits.
posted by Johnny Wallflower on Jun 7, 2015 - 113 comments

Our new robo-signing overlords...

From his cubicle inside a sprawling beige stucco building, Stephan works as the leader of the document execution team for GMAC Mortgage. He has signed off on as many as 10,000 foreclosures in a month, according to court documents. That's barely a minute per case... [more inside]
posted by ghharr on Sep 25, 2010 - 96 comments

Just walk away and there will be an end to the horror. I await your answer.

Mortgage financing giant Fannie Mae announces policy changes designed to encourage borrowers to "work with their servicers and pursue alternatives to foreclosure"...and threatens borrowers with new penalties for strategic default. [more inside]
posted by 2bucksplus on Jul 1, 2010 - 44 comments

Strange Bedfellows

Jane Hamsher is a former Hollywood producer who now heads the Firedoglake family of blogs. Grover Norquist is a long-time conservative activist who has had some influence in conservative politics. Together, they fight... Rahm Emanuel! [more inside]
posted by Halloween Jack on Dec 23, 2009 - 63 comments

Foreclosures hit a new record

Foreclosures hit a record in third quarter 2009. President Obama took measures to contain the crisis. It is now many months later, and one can start asking how successful these measures have been. [more inside]
posted by VikingSword on Oct 15, 2009 - 57 comments

The Fall of Fannie Mae

The Fall of Fannie Mae This is not your ordinary accounting fraud. Yes, there's the matter of $9 billion in overstated earnings. But the fight over Fannie is a nasty political showdown where everyone has his own agenda. And it's not over yet.
posted by trharlan on Jan 25, 2005 - 9 comments

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