Word: lockharts
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Speaking at an annual conference of real estate editors, James Lockhart, head of the Federal Housing Finance Agency, said on Thursday the government shouldn't run Fannie Mae and Freddie Mac. Lockhart should know. He leads the agency that has been doing just that since last September, when the giant mortgage insurers were put into government conservatorship. Lockhart said his experience with Fannie and Freddie as well as helping to run other government insurance programs taught him that government ownership for these types of companies doesn't work. (See what to expect when the recession ends...
Dorm: Wigglesworth Hometown: New York City Relationship Status: Angela Su. Learah Lockhart. Three words that describe you: Angela and Learah Hottest trait: My neuroticism Claim to Harvard fame: I mean, does this count? Best part about becoming a sophomore: Annenberg won’t even be an option Fastest way to your heart: Angela Su and Learah Lockhart What you miss most from the ‘90s: The Spice Girls Your Gossip Girl crush: Dorota
...hard to see any common sense in management decisions that award hundreds of millions in bonuses when their organizations lost more than $100 billion in a year," Senator Charles Grassley said in a statement. Barney Frank, chair of the House Financial Services committee, wrote to Lockhart: "I am writing to urge strongly that you rescind the retention bonus programs at Fannie Mae and Freddie...
...Compounding that problem, from a businessman's point of view, is the way the Obama Administration treats Fannie and Freddie as part of the federal government. James Lockhart, the director of their new overseer, the Federal Housing Finance Agency, has said they are to act as an "arm" of the Treasury Department - even though they are still, technically, for-profit, publicly traded companies. From a moratorium on foreclosures to a program to purchase and guarantee home loans for more than what the houses are worth, the agencies have taken steps that are greatly influenced by the goals of policy makers...
...horrible and plenty of their most-talented workers - i.e., those that can easily get hired elsewhere - are leaving. Freddie Mac doesn't have a permanent chief executive, chief operating officer, or chief financial officer. Many slots for other top positions are likewise vacant - as they are at Fannie Mae. Lockhart recently said of the agencies that "everybody is stretched very thin." That is only one of the problems...