Word: plan
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...that the White House has laid out its plans for financial regulation, figuring out what to do with Fannie and Freddie may be the next task at hand. This week President Obama said he plans to have a proposal on what to do with the mortgage insurers by early next year. Fannie and Freddie, which guarantee to pay lenders and investors in the event that a borrower defaults, were set up by Congress. But while they were run as private companies, it was long understood that if the companies ran into trouble, the government would step in to save them...
...have been active in helping people get new loans or refinance existing ones. And mortgage rates, though up recently, are down from where they were when the companies were taken over, a further indication that their added liquidity is helping. Foreclosures continue to rise, but the government's latest plan to modify mortgages seems to be making some headway...
...Congressman Paul Kanjorski, a Democrat from Pennsylvania who heads up the House of Representatives subcommittee that oversees Fannie and Freddie, backs a plan that would break up the firms into as many as 15 smaller companies. As with public utilities, he thinks the government could regulate what these firms could charge and how much they could make. That would limit the risk-taking and excess use of leverage that caused the two firms to collapse. "I think it would be bad for the mortgage market to get rid of them completely," said Kanjorski, who also spoke at the conference...
...provision on how we're going to pay for it." New Hampshire Republican Judd Gregg added that he didn't know who had written what he had seen of the bill, "but if it had been Rube Goldberg, Ira Magaziner [the architect of the failed 1994 Clinton health-care plan] and Karl Marx, you might have gotten this product...
...that will, among other things, attempt to increase the transparency of Iran's nuclear program. If the Iranians are smart, they will respond quickly. If they continue to dally, Iran's electoral embarrassment will make it easier for Obama to rally other countries behind a tougher sanctions-and-deterrence plan that will further isolate Iran. But that may be exactly what the current regime wants. "Look, for the past 30 years, the Supreme Leader - first Khomeini, now Khamenei - has blamed all our problems on the Great Satan," a prominent conservative told me. "If you take away the Great Satan...