Let's cut the crap here with the claims that the "FHA is making sound loans:"The idea the FHA needs a rescue is “just plain wrong,” Stevens said in an Oct. 6 letter to the Wall Street Journal.
The Federal Housing Administration, which insures mortgages with low down payments, may require a U.S. bailout because of $54 billion more in losses than it can withstand, a former Fannie Mae executive said.
A loose monetary policy that created lots of cheap money, government interventions into the housing market, and the hubris of Wall Street firms deemed "too big to fail" combined to send the world economy into a tailspin, argues Swedish author Johan N
Even as Grayson fights for transparency (see full letter below) which would only be beneficial to U.S. taxpayers, of whom Maria Bartiromo You think you and your colleagues in the Democratic party are going to slow down the spending? Perhaps that co
Politicians with ties to land developers are trying to force the Navy to hand over one of the most valuable pieces of property in the country for free.
"Many members" of Congress suffer from the same disclosure issues as Rep. Charles Rangel (D.N.Y.), one of his allies said Wednesday. Rep. Maxine Waters (D-Calif.) downplayed the seriousness of allegations against Rangel that he failed to disclose
The sharp fall in the US dollar is giving ammunition to the critics of the Obama administration and fuelling broader concerns about the erosion of America’s reserve currency status.
When former Illinois Governor Rod Blagojevich was heard on FBI wiretaps selling President Obama’s Senate seat, Obama first called for a special election. When it looked like a Republican might win, Obama acquiesced to Blagojevich’s appointment of lau
When it comes to presidents tuning out generals, the left has changed its tune, now that it has a commander-in-chief it believes in
Reporting from Sacramento - Bureaucratic bungling, red tape and political gridlock don't come cheap -- especially when they get in the way of paying California's bills.
Do we even have to tell you that this will be a disaster? For some time now, the government owned mortgage finance companies known as Fannie Mae and Freddie Mac have been secretly making commitments to purchase loans from Provident Funding Associates
As Congress lurches closer to a decision on an enormous overhaul of the American health care system, pressure is mounting on legislative leaders to make the final bill available online for citizens to read before a vote.
In a new report, Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (SIGTARP), reveals that then-Treasury Secretary Henry Paulson and key federal regulators forced the nation’s nine largest financial institutions to t
The National Retail Federation threw some cold water on the holiday:WASHINGTON--(BUSINESS WIRE)--The National Retail Federation today released its 2009 holiday forecast, projecting holiday retail industry sales to decline one percent this year to $43
The outcome of a legislative tussle over rum taxes between Puerto Rico and the U.S. Virgin Islands remains in doubt, but there is already one clear winner - the House's top tax writer, Rep. Charles B. Rangel, a New York Democrat who is pocketing camp
What does Democratic Sen. Christopher Dodd have against hard-working Americans who live up to the standards that made America great? For many years, Sen. Dodd pushed policies and mandates that forced lenders to write mortgages for people who because
When I went to Medford, OR last year, the local NPR affiliate identified themselves as Jefferson Public Radio. I asked my friend what that was all about and she said that it was from the mythical State Of Jefferson. There was a libertarian-minded s
Rep. Charlie Rangel ducked reporters’ questions about his ethics troubles and heard a nasty catcall from a passerby during a Manhattan news conference this afternoon.
Reuters is reporting the U.S. Immigration office is preparing for a huge increaase in their workload.
One of the most distressing things about the current financial scandal is that there has been no similar reckoning against the firms that were supposed to be watching the system for the investment public.
- White House officials and Democratic leaders in Congress on Friday said they were weighing extending key elements of the economic-stimulus program as the nation grapples with a deteriorating job market.
President Obama's energy "czar" Carol Browner hinted today that the EPA might implement a cap and trade plan for carbon dioxide emissions even if that type of plan fails in the Senate. In other words, if our elected leaders recognize that enough Amer
A part of today's BLS announcement that has not received much attention is the BLS' own disclosure that it "may" have lost an additional 824,000 jobs in LTM period ended March 2009, in addition to the already disclosed 4.8 million job losses. From th
The Congressional Hispanic Caucus has asked the Obama administration to “immediately terminate” a U.S. Immigration and Customs Enforcement (ICE) program that has identified more than 120,000 illegal aliens over the past three years..
Six more banks have been approved to receive funding under the Troubled Asset Relief Program, according to the Treasury Department's most recent update on bailout activity
Legislation to triple aid to Pakistan and stem the tide of radicalism and anti-Americanism in that Asian nation cleared Congress on Wednesday and moved to President Barack Obama for his signature.
Happy New Year! But leave the hats and horns in the closet. There's nothing to celebrate. Today marks the start of the 2010 federal fiscal year. The only thing good about it is that FY'09 is finally over. Net interest paid on the Debt will amount thi
Facing a midnight deadline, the U.S. Senate Wednesday approved an emergency one-month extension of current funding levels for the federal government.
Senate Finance Committee Democrats rejected a proposed a requirement that immigrants prove their identity with photo identification when signing up for federal healthcare programs.