|
Federal Takeover Of Fannie Mae And Freddie Mac
In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis. The FHFA established conservatorships in which each enterprise's management works under the FHFA's direction to reduce losses and to develop a new operating structure that will allow a return to self-management. Background and financial market crisis The combined GSE losses of US$14.9 billion and market concerns about their ability to raise capital and debt threatened to disrupt the U.S. housing financial market. The Treasury committed to invest as much as US$200 billion in preferred stock and extend credit through 2009 to keep the GSEs solvent and operating. The two G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae Headquarters
Fannie is a given name. Notable people with the name include: * Fannie B. Damon (1857-1939), American writer, magazine editor * Fannie B. Linderman (1875-1960), British-born American teacher, entertainer, and writer * Fannie Barrier Williams (1855–1944), African American educator, political and women's rights activist * Fannie Barrios, Venezuelan bodybuilder * Fannie Bloomfield Zeisler (1863–1927), Austrian-born American pianist * Fannie C. Williams (1882–1980), American educator * Fannie E. Motley, American schoolteacher and president of the National Association of Teachers in Colored Schools * Fannie Farmer (1857–1915), American culinary expert and author * Fannie Fern Andrews (1867–1950), American lecturer, teacher, social worker and writer * Fannie Flagg (born 1944), American actress, comedian and author * Fannie Gaston-Johansson (born 1938), American professor of nursing * Fannie Heaslip Lea (1884–1955), American author and poet * Fannie Hillsmith (1911– ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Bank
A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913. The banks are jointly responsible for implementing the monetary policy set forth by the Federal Open Market Committee, and are divided as follows: Some banks also possess branches, with the whole system being headquartered at the Eccles Building in Washington, D.C. History The Federal Reserve Banks are the most recent institutions that the United States government has created to provide functions of a central bank. Prior institutions have included the First (1791–1811) and Second (1818–1824) Banks of the United States, the Independent Treasury (1846–1920) and the National Banking System (1863–1935). Several policy questions have arisen with these institutions, including the degree of influence by private ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John McCain
John Sidney McCain III (August 29, 1936 – August 25, 2018) was an American politician and United States Navy officer who served as a United States senator from Arizona from 1987 until his death in 2018. He previously served two terms in the United States House of Representatives and was the Republican nominee for president of the United States in the 2008 election, which he lost to Barack Obama. McCain graduated from the United States Naval Academy in 1958 and received a commission in the United States Navy. He became a naval aviator and flew ground-attack aircraft from aircraft carriers. During the Vietnam War, McCain almost died in the 1967 USS ''Forrestal'' fire. While on a bombing mission during Operation Rolling Thunder over Hanoi in October 1967, he was shot down, seriously injured, and captured by the North Vietnamese. McCain was a prisoner of war until 1973. He experienced episodes of torture and refused an out-of-sequence early release. During ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elizabeth Dole
Mary Elizabeth Alexander Hanford Dole (née Hanford; born July 29, 1936)Mary Ella Cathey Hanford, "Asbury and Hanford Families: Newly Discovered Genealogical Information" ''The Historical Trail'' 33 (1996), pp. 44–45, 49. is an American attorney, author and politician who served in the Nixon, Reagan, and Bush presidential administrations. She also served as a United States Senator for North Carolina from 2003 to 2009. A graduate of Duke University and Harvard Law School, Dole served as Secretary of Transportation under Ronald Reagan and Secretary of Labor under George H. W. Bush before becoming head of the American Red Cross. She next served as North Carolina's first female U.S. Senator (2003–09). She is a member of the Republican Party and former chair of the National Republican Senatorial Committee. She is the widow of former U.S. Senate Majority Leader, 1976 Republican vice presidential nominee, and 1996 Republican presidential nominee Bob Dole. Early life and edu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barney Frank
Barnett Frank (born March 31, 1940) is a former American politician. He served as a member of the U.S. House of Representatives from Massachusetts from 1981 to 2013. A Democrat, Frank served as chairman of the House Financial Services Committee from 2007 to 2011 and was a leading co-sponsor of the 2010 Dodd–Frank Act. Frank, a resident of Newton, Massachusetts, was considered the most prominent gay politician in the United States during his time in Congress. Born and raised in Bayonne, New Jersey, Frank graduated from Bayonne High School, Harvard College and Harvard Law School. He worked as a political aide before winning election to the Massachusetts House of Representatives in 1972. He was elected to the U.S. House of Representatives in 1980 with 52 percent of the vote. He was re-elected every term thereafter by wide margins. In 1987, he publicly came out as gay, becoming the first member of Congress to do so voluntarily. From 2003 until his retirement, Frank was the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate Committee On Banking, Housing, And Urban Affairs
The United States Senate Committee on Banking, Housing, and Urban Affairs (formerly the Committee on Banking and Currency), also known as the Senate Banking Committee, has jurisdiction over matters related to banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes, currency and coinage, public and private housing, urban development, mass transit and government contracts. The current chair of the committee is Democrat Sherrod Brown of Ohio, and the Ranking Member is Republican Pat Toomey of Pennsylvania. History The committee is one of twenty standing committees in the United States Senate. The committee was formally established as the "Committee on Banking and Currency" in 1913, when Senator Robert L. Owen of Oklahoma sponsored the Federal Reserve Act. Senator Owen served as the committee's inaugural chairman. Jurisdiction In accordance of Rule XXV of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jon Corzine
Jon Stevens Corzine ( ; born January 1, 1947) is an American financial executive and retired politician who served as a United States Senator from New Jersey from 2001 to 2006 and the 54th governor of New Jersey from 2006 to 2010. Corzine ran for a second term as governor but lost to Republican Chris Christie. A member of the Democratic Party, he previously worked at Goldman Sachs; after leaving politics, he was CEO of MF Global from 2010 until its collapse in 2011. Education and early business career Corzine was born in Taylorville, Illinois, the son of Nancy June (née Hedrick) and Roy Allen Corzine, Jr. His grandfather Roy A. Corzine, Sr. served in the Illinois General Assembly. He grew up on a small family farm in Willey Station, Illinois near Taylorville. After completing high school at Taylorville High School, where he had been the football quarterback and basketball captain, he attended the University of Illinois at Urbana–Champaign, where he was a member of the Phi D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Federal Housing Enterprise Oversight
The Office of Federal Housing Enterprise Oversight (OFHEO) was an agency within the Department of Housing and Urban Development of the United States of America. It was charged with ensuring the capital adequacy and financial safety and soundness of two government sponsored enterprises—the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). It was established by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. OFHEO was managed by a director, appointed by the president and ratified by the Senate. The final director was James B. Lockhart III, assuming the position during a time of crisis as acting director April 28, 2006, when nominated, confirmed to the post on June 15, and sworn in June 26, 2006. The previous Director was Armando Falcon, Jr, confirmed September 29, 1999, and forced to resign February 4, 2003, over the release of critical oversight reports However, the White House withdr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Enterprise Institute
The American Enterprise Institute for Public Policy Research, known simply as the American Enterprise Institute (AEI), is a center-right Washington, D.C.–based think tank that researches government, politics, economics, and social welfare. AEI is an independent nonprofit organization supported primarily by contributions from foundations, corporations, and individuals. Founded in 1938, AEI is aligned with conservatism and neoconservatism but does not support political candidates. AEI advocates in favor of private enterprise, limited government, and democratic capitalism. AEI is governed by a 28-member Board of Trustees, composed of executives and former executives from various corporations. Approximately 185 authors are associated with AEI. Arthur C. Brooks served as president of AEI from January 2009 through July 1, 2019. He was succeeded by Robert Doar. Members Notable AEI scholars or affiliates have included President Gerald Ford, William J. Baroody Jr., William J. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
T-Bill
United States Treasury securities, also called Treasuries or Treasurys, are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Since 2012, U.S. government debt has been managed by the Bureau of the Fiscal Service, succeeding the Bureau of the Public Debt. There are four types of marketable Treasury securities: Treasury bills, Treasury notes, Treasury bonds, and Treasury Inflation Protected Securities (TIPS). The government sells these securities in auctions conducted by the Federal Reserve Bank of New York, after which they can be traded in secondary markets. Non-marketable securities include savings bonds, issued to the public and transferable only as gifts; the State and Local Government Series (SLGS), purchaseable only with the proceeds of state and municipal bond sales; and the Government Account Series, purchased by units of the federal government. Treasury securities are back ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
