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Keyword: demarco

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  • Former San Fran Fed Employee Threatened To Murder Ex-FHFA Head Ed DeMarco

    05/06/2014 5:20:12 PM PDT · by dynachrome · 5 replies
    Zero Hedge ^ | 5-6-14 | Tyler Durden
    When it comes to the San Francisco Fed, it is best known throughout the financial community as the group of crack economists who spend millions of taxpayer funds to investigate such probing, for kindergarteners at least, topics as: is water wet, do trees make a sound when they fall in the forest, is it still worth going to college, and are hedge funds important in a crisis. Little did we know that, at least some of them, are homicidal psychopaths with suicidal tendencies. Because this is precisely what was revealed moments ago when Bloomberg reported that the chief operating officer...
  • Fannie and Freddie: A Phoenix Rising From The Ashes? Or Ashes?

    03/22/2013 3:46:22 PM PDT · by whitedog57
    Confounded Interest ^ | 03/22/2013 | Anthony B. Sanders
    The government sponsored enterprises in conservatorship, Fannie Mae and Freddie Mac, are generating attention in Congress. For example, here are recent headlines (courtesy of WilmerHale). * Corker and Warren Unite on GSE Reform. Here is their bill. • As described in the Bipartisan Policy Center’s executive summary, the BPC plan would replace Fannie and Freddie with a new government entity that would insure qualifying MBS with an explicit government guarantee that would kick in only if mandatory private credit enhancement, e.g., private mortgage insurance, failed to reimburse credit losses on the re-insured MBS. • FHFA Acting Director DeMarco previously announced...
  • New Marx Brothers Film: "A Day in Washington D.C. - Mortgage Write-downs"

    04/16/2012 12:09:28 PM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 04/16/2012 | Anthony B. Sanders
    The never-ending tale of the Administration and Congress pressuring FHFA Ed DeMarco to write down principal on residential mortgages is reminiscent of the Marx Brothers zany, non-nonsensical films like “Duck Soup,” “A Day at the Races,” and “A Night at the Opera.” Even worse, DeMarco seems to be wilting like a month-old celery stalk in the frig. Vicki Needham at The Hill has a nice review of the latest Marx Brothers zany comedy. Frank Keating, president and chief executive of the American Bankers Association: “Principal reductions create an incentive for a huge group of borrowers who have continued making their...
  • FHFA’s DeMarco: Several Weeks Before a Decision on Principal Reductions (Jurassic Park Alert!)

    04/11/2012 11:06:53 AM PDT · by whitedog57
    Confounded Interest ^ | 04/11/2012 | Anthony B. Sanders
    Today, FHFA updated their study of principal reductions and Director Ed DeMarco presented the new results. He did NOT announce any trial program or agreement with the Obama Administration about using Fannie Mae and Freddie Mac to salvage the housing market. But he did say that an announcement will be out in a few weeks. As I said at Brookings, we have very little empirical evidence (other than anecdotal stories) that principal reductions work. We have not been through 3-4 years of mortgage modifications with principal reductions to see if they are as effective as forbearance in preventing defaults. FHFA...
  • House Passes Revised Children's Health Bill That Still Faces Veto Threat (S-CHIP Again)

    10/25/2007 3:04:52 PM PDT · by khnyny · 22 replies · 69+ views
    Fox News ^ | October 25, 2007
    WASHINGTON — The House passed a revised children's health proposal Thursday, but not by the two-thirds margin that supporters will need if President Bush vetoes the measure as promised. The 265-142 vote was a victory for Bush and his allies, who urged House Republicans to reject Democrats' claims that changes to the legislation had met their chief concerns. If the same vote occurs on a veto override attempt, Bush will prevail, as he did earlier this month when he vetoed a similar bill. Liberal groups continue to run attack ads against Republicans siding with Bush on the issue, which many...