Bidding Adieu to Fannie and Freddie
by Kyle Colona on February 22, 2012
The days of Fannie and Freddie are growing short as the Federal Housing Finance Agency (FHFA) has released a 21 page report outlining the inevitable removal of the GSEs from a government conservatorship and spinning them off in a play to re-privatize the mortgage finance market.
For all intents and purposes, placing the housing giants into a conservatorship essentially nationalized the housing market. And while the merits of this play are still a matter of debate, what’s done is done and so now the question for policy wonks, regulators and lawmakers is … Read More »
Feds Looking Into Bank Overdraft Fees
by Lisa Swan on February 22, 2012
It’s on. The Consumer Financial Protection Bureau is going after the way banks charge overdraft fees. The New York Times reports that Richard Cordray, head of the bureau, wants to know how the banks determine such fees, including whether they process bank transactions in a way to maximize such fees.
Bank overdraft … Read More »
Fitch Cuts Greece Debt Ratings to Slightly Above Default
by Reese Darragh on February 22, 2012
In what seems to be a kick in the gut, ratings agency Fitch downgrades Greece’s long-term debt ratings to its lowest rating, above a default, becoming the first ratings agency to make the widely expected downgrade after the bond exchange plan announcement was made yesterday.
The agency said Greece would be designated as … Read More »
Is Theft of Computer Code a “Gray Area” in Espionage Law?
by Daryn Strauss on February 22, 2012
A federal appeals court reversed the conviction of computer programmer Sergey Aleynikov this past Thursday, triggering a DealBook editorial about how digital technology plays into espionage law.
Aleynikov was Goldman Sachs’ most highly paid programmer when he split for an even bigger paycheck for a competitive firm. But before he made … Read More »
Chris Christie tells Warren Buffett to “Stuff It”
by Janelle Howell on February 22, 2012
New Jersey Governor Chris Christie has heard enough from billionaire Warren Buffett, and told him to put up or shut up.
On Tuesday Governor Christie appeared on CNN’s “Piers Morgan Tonight,” and said, “He should just write a check and shut up. Really, and just contribute. The fact of the matter … Read More »
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