Politico reports:
With just three sentences, Federal Housing Finance Agency Director James B. Lockhart on Sunday sent an unambiguous signal that one of Washington’s longest-running parties is over — and that some hangovers are on the way.
In the wake of the government takeover of the two beleaguered mortgage giants, Fannie Mae and Freddie Mac, compensation for their newly recruited CEOs “will be significantly lower than the outgoing CEOs,” said Lockhart.
“All political activities — including all lobbying — will be halted immediately. We will review the charitable activities,” he added.
and
Freddie’s foundation has its own list of heavy hitters. Among its former board members are Rep. Rahm Emanuel (D-Ill.), a confidant of Democratic nominee Barack Obama, and Harold Ickes, a senior adviser to both President Clinton and Sen. Hillary Rodham Clinton (D-N.Y.). From the Republican side, David Gribbin, an aide to Vice President Cheney, once sat on the board, and Robert Glauber, a former Treasury undersecretary, is on the board.
This is the biggest fraud in modern day finance.You'll want to read the entire article.Who could forget
Jesse Jackson on this whole subject of GSE "funding"?:
The National Legal and Policy Center (NLPC) today criticized the managements of Fannie Mae (FNM) and Freddie Mac (FRE) for their recent sponsorship of the Rainbow/PUSH Coalition and Citizenship Education Fund Annual Conference. The event took place June 28 through July 2 in Chicago. It is Jesse Jackson's main fundraising event of the year.
According to the conference program, Freddie Mac was a "Platinum Sponsor," a designation costing $150,000, and Fannie Mae was a "Diamond Sponsor," a designation costing $100,000.
No word yet from Jesse Jackson on this one.
