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| Subject: Fannie Mae The Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, is a stockholder-owned corporation chartered by Congress in 1968 as a government-sponsored enterprise (GSE), but founded in 1938 during the Great Depression. The corporation’s purpose is to purchase and securitize mortgages in order to ensure that funds are consistently available to the institutions that lend money to home buyers. On September 7, 2008, James Lockhart, director of the Federal Housing Finance Agency (FHFA), announced that Fannie Mae and Freddie Mac were being placed into conservatorship of the FHFA. The action is “one of the most sweeping government interventions in private financial markets in decades”. As of 2008, Fannie Mae and the Federal Home Loan Mortgage Corporation (Freddie Mac) owned or guaranteed about half of the U.S.’s $12 trillion mortgage market. [Wikipedia: 2009] Social change: By John Schroy, on June 25th, 2010 |  One comment  Restricted availability of consumer credit and a greater propensity of households to save before spending, may result in less use of credit cards and smaller mortgages. A return, even partial, to saving habits of the 1950s could stimulate economic recovery. The popular Dave Ramsey radio and TV shows suggest that a societal change in this direction is at least possible. Lower levels of personal debt would boost the economy and make people happier. June 25th, 2010 | Print Article |  Email Article |  Topics: Baby Boomers, Barack Obama, Dave Ramsey, Democratic Party, Economic Recovery, Fannie Mae, fiscal deficit, Freddie Mac, Great Depression, Leverage, Mortgage-backed Securities, pension, pension plans, rating agencies, sub-prime mortgages, unemployment | Category: Small Investors, featured | One comment |  Short urlUS politics: By John Schroy, on September 25th, 2009 | Leave a comment  Closely connected with President Barack Obama, the ACORN group of “community organizers” has drawn censure from the Democrat-controlled Congress as a result of daring investigative reporting by James O’Keefe and Hannah Giles. However, effective Congressional action seems unlikely. The HUD grants program is a ‘honey pot’ that has kept legislators of both parties in slush funds for generations. Take the case of the sidewalk in Sandy, Utah … September 25th, 2009 | Print Article | Email Article | Topics: ACLU, ACORN, Barack Obama, Bertha Lewis, Fannie Mae, Federal Housing Administration, Freddie Mac, Ginnie Mae, Glenn Beck, Hannah Giles, HUD, James O'Keefe, SEIU, Shaun Donovan, sub-prime mortgages, Tides Foundation, United States, US Congress | Category: US Politics, featured | Leave a comment | Short urlThe threat of inflation By John Schroy, on March 31st, 2009 | 2 comments  The supremacy of the US dollar is not yet dead, but portents of a fatal cancer — inflation — are there for all to see. The extreme, profligate spending of the Obama administration, combined with populist, irresponsible bank lending policies promoted by Barney Frank and Chris Dodd, portend rising interest rates, the collapse of the bond market, and the end of dollar supremacy. Furthermore, a large part of the American electorate doesn’t understand or is unaware of what lies ahead. March 31st, 2009 | Print Article | Email Article | Topics: Barack Obama, Barney Frank, Bernard Madoff, Bill Clinton, China, Chris Dodd, Dennis Kucinich, Euronext, executive stock options, Fannie Mae, fiscal deficit, Freddie Mac, General Motors, IMF, industrialization, Inflation, Jimmy Carter, Lyndon Johnson, Monica Lewinsky, Nancy Pelosi, NASDAQ, NYSE, oil, OMX Group, reserve currency, Ronald Reagan, Stock Buybacks, sub-prime mortgages, Timothy Geithner, unemployment, US dollar, Warren Buffett | Category: Inflation, featured | 2 comments | Short urlFeatured articles on inside pages
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