Senators Agree on Funding for Foreclosure Bill

Some of the key Senators involved in the anti-foreclosure homeowner assistance bill currently before the Senate announced that they had reached a bipartisan agreement on a way to fund the bill without using taxpayer dollars, which had been a huge issue and stalled the...

Ben Bernanke Walks into a Bar, Andrew Cuomo Appraises the Nation

Jeez. The Clinton Obama show is killing comedy. Great jokes are getting lost in the sauce. Did you hear the one about Federal Reserve Chairman Ben Bernanke? Ben walks into a bar. A pair of antlers on his head. “Been cuckolded, mister?” asks a chippy, trying for a...

Stimulus Package Store, GSE Jumbo Out Back

Hot damn. The government is going to stimulate the economy. Not with a lap dance or lubricated love glove, but with taxpayer dollars. Come summer, Mister and Miz America will get a rebate from Uncle Sam. What a man! Some people will get more than a thou of their own money...

Fannie Mae adjusts dividend rate for preferred stock series O

"The new dividend rate for Series O will be in effect from and including September 30, 2007 to but excluding December 31, 2007. In accordance with the terms of the Series O Preferred Stock Certificate of Designation, the dividend will continue to accrue at a per annum rate of...

The Bush Subprime Bailout: Limited Surge or Taxpayer Quagmire?

Ick! The Ownership Society of crap mortgage lending that President Bush pushed so assiduously has gone and done an Iraq on the carpet. Attention taxpayers and homebuyers dumb enough to save for real down-payments. The roar you hear at the door is Dubya with a wallet-sucking...

Alt-A Reality and the Subprime Rescue Mission

The United States of Real Estate continues to suffer from subprime mortgage sickness. Now spreading into Alt-A territory. Until recently the risk to Alt-A was pooh poohed. Financial institutions with Alt-A exposure declared it a step up from subprime. Now seers say watch...

Report: Fannie Mae Manipulated Accounting

"AP - Employees at mortgage giant Fannie Mae manipulated accounting so that executives could collect millions in bonuses as senior management deceived investors and stonewalled regulators at a company whose prestigious image was phony, a federal agency charged Tuesday."