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The U.S. Senate in an effort to minimize costs at Fannie Mae (FNMA) and Freddie Mac (FMCC), the government-controlled mortgage companies that are dependent on taxpayer aid, today adopted by voice vote a measure to prohibit executive bonuses at both
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There is no doubt that a perceived and/or actual lack of quality collateral exists in the markets today. Let’s take a look at some of the evidence I see and what it could mean for the markets.
In some cases,
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…Rick Santelli is arguably one of the most influential people in the country. Last year Santelli ranted against the Obama administration’s mortgage modification plan, and called for a Chicago tea party. The news clip went on to become national news.
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