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Keyword: financeregulation

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  • When Government Invites Corruption

    07/22/2010 5:59:50 PM PDT · by Kaslin · 15 replies · 2+ views
    IBD Editorials ^ | July 22, 2010 | Investors Business Daily staff
    Ethics: A probe by Rep. Darrell Issa has now uncovered 173 sweetheart loans made by Countrywide Financial Corp. to 42 Fannie Mae and Freddie Mac executives. As is too often the case, it's a regulatory problem. Of the 173 loans, 150 were made to borrowers who identified themselves as employees of Fannie Mae. Loan recipients from the institution include Jamie Gorelick, a former vice chair of Fannie Mae; James Johnson, former chairman and CEO of Fannie Mae; Daniel Mudd, a former Fannie Mae president and CEO; and Franklin Raines, former Fannie Mae chairman and CEO. Issa, ranking member of the...