Congratulations are in order to the Federal Housing Finance Agency, which has managed to bring a case to trial against Nomura Holdings and the Royal Bank of Scotland, two foreign banks with little U.S. reputational risk. This relatively obscure agency oversees Fannie Mae and Freddie Mac. Considering they have nowhere near the power of our federal regulators and prosecutors at our… [Read More]
Why Is Our Government in the Mortgage Business?
We sure don’t want to be, but it looks like we are heading in that direction. “In the name of affordable loans, the White House is creating the conditions for a replay of the housing disaster,” states the caption in a recent WSJ article on the “coming mortgage meltdown.” [tweetthis twitter_handles=”@richardmbowen”]Why are we – oh,… [Read More]