Posts Tagged ‘fannie

06
Aug
13

News Of The Day

ALERT: PRESIDENT OBAMA WILL BE ON THE TONIGHT SHOW WITH JAY LENO AT 11:35PM ET / 10:35PM CT

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President Barack Obama smiles as he is warmly received before speaking about housing at Desert Vista High School in Phoenix, Arizona.

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USA Today: Obama Says It Is Time To Wind Down Fannie And Freddie

Almost five years after taxpayers bailed out mortgage giants Fannie Mae and Freddie Mac, President Obama said on Tuesday that it’s time for private investors to take a bigger role in the mortgage market. Fannie and Freddie collapsed in 2008 before being bailed out with almost $200 billion in taxpayer funds. But with the nation’s real estate market on the mend, Obama said in an address in Phoenix on home ownership that it is time to wind down the two companies and make clear that the days of a guaranteed government bailout are over.

“For too long, these companies were allowed to make big profits buying mortgages, knowing that if their bets went bad, taxpayers would be left holding the bag,” Obama said. “It was heads we win, tails you lose. And it was wrong.” With his remarks, Obama for the first time endorsed bipartisan efforts in the Senate for mortgage reform. At the same time, he made it clear that he expects any legislation will spell out a limited government role for backing Fannie Mae and Freddie Mac in the future, and that it must ensure Americans’ continued access to a 30-year mortgage at a fixed interest rate.

More here

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USA Today: U.S. Files Criminal Charges Over Benghazi Attack

A Libyan militia leader has been charged in last year’s terrorist attacks on the U.S. consulate in Benghazi that left U.S. Ambassador Chris Stevens and three other Americans dead, two federal officials said.

Ahmed Kattalah is the first person to be charged in the Sept. 11 incident that sparked a political firestorm about the initial U.S. response to the assault.

Because the charges remain under seal, the officials were not authorized to comment publicly.

More here

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President Barack Obama tours the home framing assembly area at Erickson Construction in Chandler, Arizona.

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AP: US Gov’t Sues BoFA Over Mortgage Bond Sale

The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and misled investors in its sale of $850 million of mortgage bonds during 2008. The Justice Department filed a lawsuit Tuesday against the bank and several subsidiaries in federal court in Charlotte, N.C., where Bank of America is based. The Securities and Exchange Commission filed a related lawsuit against Bank of America there, too.

The lawsuits accuse the second-largest U.S. bank of misleading investors about the risks of the mortgages tied to the securities. And the government said the bank failed to tell investors that more than 70 percent of the mortgages backing the investment were written by mortgage brokers outside the banks’ network. That made the mortgages more vulnerable to default, they said. The bank disclosed the percentage of such mortgage loans in the investment only to a select group of investors, the suits alleged.

More here

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CBS News: CDC: Obesity Rates Falling Among U.S. Preschoolers

A new government study of preschoolers shows there has been progress in the fight against childhood obesity. The Centers for Disease Control and Prevention’s new report found about one in eight preschool-aged kids are obese, but the rates may be falling. CDC researchers studied more than 11 million low-income preschool children in 43 U.S. states and territories from 2008 through 2011. They found obesity rates fell in 18 states and the U.S. Virgin Islands. Health officials hope the findings are a sign of things to come.

“Today’s announcement reaffirms my belief that together, we are making a real difference in helping kids across the country get a healthier start to life,” Mrs. Obama said in a news release from the White House. “Yet, while this announcement reflects important progress, we also know that there is tremendous work still to be done to support healthy futures for all our children,” she said.

More here

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Read First Lady Michelle Obama’s Full Statement

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Jessica Chasmar: Oprah Winfrey: Trayvon Martin ‘Same Thing’ As Emmett Till Lynching

While promoting her new movie “The Butler,” Oprah Winfrey told The Grio that the death of Trayvon Martin was the “same thing” as the lynching of 14-year-old Emmett Till for allegedly flirting with a white woman in 1955. “Let me just tell you — in my mind, same thing,” she said in a preview of the interview on MSNBC. Last week, Oprah said Americans know “diddly-squat” about the history of the civil rights movement. She also said that when she hears the N-word, she thinks of the “millions” of people “who heard that as their last word as they were hanging from a tree.

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So delightful to watch. Yay FLOTUS!

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The Grio: Michelle Obama Turns To Hip-Hop To Promote Childhood Obesity Campaign

Michelle Obama is adding another fun element to her healthy kids campaign that seeks to tackle the issue of childhood obesity. Like her husband, the first lady has turned to hip-hop to demonstrate a point. She is distributing a hip-hop album complete with 10 music videos and 19 tracks to support her “Let’s Move!” nutrition program. Obama is partnering with Hip-Hop Public Health and Partnership for a Healthier America to release thenSongs for a Healthier America album on September 30th.

The single “Everybody” features the first lady joined by songstress Jordin Sparks, emcee Doug E. Fresh, and medical expert Dr. Oz. The video shows children of all ages dancing lightheartedly between takes of kids doing jumping jacks push ups, and drills.

“For years I have known that we need to reach children in the formative years to educate them to live a life of prevention,” said Dr. Mehmet Oz.  “The best way to do this is to build a bridge with the artists that they see on television and listen to. When someone like Doug E. Fresh shows our youngsters that health can be fun and cool, we are winning the battle.” Some other songs on the album include “Veggie Luv”, “Hip Hop LEAN”, and “Get Up Sit Up” most of which will be hip-hop based, according to U.S. News and Wold Reports.

More here

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President Barack Obama listens as Lisa Monaco, Assistant to the President for Homeland Security, briefs him on the terror threat, in the Map Room of the White House, Aug. 6, 2013. Also participating in the briefing are National Security Advisor Susan E. Rice and Chief of Staff Denis McDonough. (Official White House Photo by Pete Souza)

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President Barack Obama meets with former Negro League baseball players in the Cross Hall of the White House, Aug. 5, 2013. (Official White House Photo by Pete Souza)

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27
Jan
12

rise and shine – heads up for michigan speech (9:50 ET)

The front of the line – about 3,000 people will pass through the doors of Al Glick Fieldhouse this morning to see President Barack Obama speak

AnnArbor.com

Freep.com: Long lines of people wait on the outdoor football field outside the Glick Fieldhouse on the campus of the University of Michigan hours before President Obama was to deliver his speech about education to over 3,000 people inside today

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9:45 ET  PBO delivers remarks at the University of Michigan in Ann Arbor

11:00: Departs Michigan en route to Joint Base Andrews

12:25: Arrives at Joint Base Andrews

12:30: Departs Joint Base Andrews en route to Cambridge, Md.

1:15 PBO address House Democrats at their annual retreat (Listed for live coverage by C-Span 2 and CNN streaming)

3:00: Arrives at the White House

3:30: PBO and VP Biden meet with Secretary of State Clinton

4:30: PBO delivers remarks at a campaign event

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Jonathan Cohn (TNR): President Obama visits the Detroit area on Friday, and his timing couldn’t be better: Today’s Detroit Free Press brings more good news from the auto industry:

General Motors, Ford and Chrysler all plan to add jobs in Michigan, which stands to benefit more than any other state. Nissan, BMW, Honda, Toyota, Kia and Mercedes-Benz also are hiring. Suppliers are looking to add engineers and technical people, but at a more gradual pace.

About 15,000 auto-related Michigan jobs could be created this year….

More here

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President Barack Obama greets people following his remarks at Buckley Air Force Base in Denver, Colo., Jan. 26, 2012. (Official White House Photo by Pete Souza)

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The Nation: It is hard to read Remedy and Reaction, Paul Starr’s remarkable chronicle of the hundred-year effort to legislate universal health insurance in the United States, without recalling Robert Gibbs’s tortured quip that Democrats who’ve denounced the Obama White House for having knuckled under to Republican principles or intimidation “ought to be drug-tested.” Nobody with a sense of history – that is, nobody who reads Starr’s book – could doubt how sensible and brave was the president’s effort to drive the Patient Protection and Affordable Care Act of 2010 through Congress. Nobody with a feel for the present moment should doubt how imminent is the threat to the act, how urgent it is for progressive Democrats to rally around Obama – and without all the condescending qualifications that “independents,” who flock away from allegedly weak or incompetent leaders, interpret as contempt.

More here

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Greg Sargent: …. At an event in Las Vegas (yesterday), Obama offered his most extensive rebuttal by far to the bogus GOP charge that the push for higher taxes on the wealthy is about “class warfare” and “envy”. The whole thing is worth a watch – the tone was not one of outrage, but one laced with a good deal of mockery and derision:

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Washington Post: The Obama administration finalized a rule Thursday governing the management of 193 million acres of national forests and grasslands, establishing a new blueprint to guide everything from logging to recreation and renewable energy development.

The guidelines – which will take effect in early March and apply to all 155 national forests, 20 grasslands and one prairie – represent the first meaningful overhaul of forest rules in 30 years….

Several environmentalists and scientists praised the guidelines … “The vision is laudable, and this is no small shift in how the national forests will be managed, from one of commodity extraction into a vision of protection, restoration and water preservation,” said Dominick DellaSala, president and chief scientist for the Oregon-based Geos Institute.

More here

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National Journal

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The Week

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Morning everyone ;-)

06
Jan
12

evening all

President Barack Obama is briefed by National Security Advisor Tom Donilon before a phone call with King Abdullah II of Jordan in the Oval Office, Jan. 6, 2012. (Official White House Photo by Pete Souza)

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Chicago Tribune: Freddie Mac announced Friday that it was giving mortgage servicers the authority to offer up to 1 year of mortgage forbearance to unemployed homeowners who have Freddie Mac-backed mortgages.

The change, with takes effect Feb. 1, means loan servicers can offer six months of forbearance to jobless borrowers without Freddie’s approval and another six months with approval….

Fannie Mae is expected next week to announce guidelines that will align with the new ones at Freddie Mac. The expansions are the result of a directive from the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac.

More here

Thanks forus50

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ThinkProgress: The Affordable Care Act has done very well in court so far; three of the four courts of appeals to consider it have upheld the law…..

….Today, DOJ filed its brief defending the Affordable Care Act’s insurance coverage requirement, and with one sentence the Justice Department takes the plaintiff’s silliest and most successful argument off the table ….

…. This statement, that federal efforts to directly regulate the family, general crimes or education stand on much weaker constitutional footing than the ACA, is a very big deal. It shows that DOJ recognizes the only thing that even vaguely resembles a hole in their previous legal arguments, and that they have now sewn that hole up. When one of the justices asks them “if Congress can do this, what can it not do?” they will now have a clear and well-articulated answer.

With just one sentence in its brief, DOJ took away the last few straws the ACA’s opponents were desperately grasping at.

Full post here

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ThinkProgress: 20-Year Ban On Uranium Mining Near The Grand Canyon | Interior Secretary Ken Salazar is expected to announce a 20-year moratorium on uranium mining in the Grand Canyon region on Monday. The ban has been under consideration for two years, with evidence showing the mining contaminates drinking water. Last year, the most anti-environment House of Representatives attempted to permit uranium mining to overrun the Grand Canyon region, after a 2009 suspension from the Department of Interior.

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Washington Post: Chrysler will add 1,250 jobs at two Detroit factories next year – another sign that the once struggling automaker appears to be making a comeback.

The Jefferson North Assembly Plant will get 1,100 new workers and a third shift to help build a Jeep Grand Cherokee diesel model for North America. Another 150 workers will be added when Chrysler reopens the Conner Avenue factory to make a Street Racing Team version of the Dodge Viper muscle car.

More here

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The Week

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Robert Shrum: How about that Romney landslide? It turned out that in Iowa, the Mitt did fit — by two hands worth of votes, minus the thumbs. On paid media alone, Romney spent approximately $113 per vote and Rick Santorum spent just $1.65. The Romney campaign dared, and lost while winning. If Mitt had racked up a convincing margin, he would have been on a glide path to the GOP nomination. Instead, he won by a mere eight votes…..

Full article here

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Em…..

Democratic presidential candidate Vermin Supreme, who is one of more than 40 candidates who are on the New Hampshire primary ballot for U.S. president in 2012, stands outside a campaign event for Senator Rick Santorum in Manchester, New Hampshire, January 6. New Hampshire, where candidates are required to do nothing more than fill out a form and pay $1,000 to sign up, typically attracts a wide range of candidates.

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Philly.com: ….. In 2005, Santorum made headlines – not all positive – for visiting the deathbed of Terri Schiavo, the woman at the center of a national right-to-die controversy.What my Philadelphia Daily News colleague John Baer later exposed was that the real reason he was in the Tampa, Fla., area was to collect money at a $250,000 fundraiser organized by executives of Outback Steakhouses, a company that shared Santorum’s passion for a low minimum wage for waitresses and other rank-and-file workers. Santorum’s efforts were also aided by his unusual mode of travel: Wal-Mart’s corporate jet. And he canceled a public meeting on Social Security reform “out of respect for the Schiavo family”  even as the closed fundraisers went on.

Full article here

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OFA: President Obama broke bread today with Scott, Valarie, Kathie, and Bill, the four winners of #DinnerWithBarack

14
Nov
11

down under

NT News: President Barack Obama has been insured against crocodile attack for his visit to the Northern Territory. TIO issued him the standard policy – a cover note carrying a photograph of a saltie with the promise to pay $50,000 in the event of a fatal attack.

Chief executive Richard Harding said the insurance policy had been framed and would be presented to the president during his visit to Darwin on Thursday. … “We’re excited to be issuing one of these policies for President Obama as a memento of his time in the Territory.”

TIO has been selling the $10 cover for 23 years – but President Obama will get his for free.

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Canberra Times

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CNN: A new poll shows Mitt Romney leading the GOP presidential field by a wide margin in New York, but a majority of voters statewide said they would choose to re-elect President Barack Obama if the election were held today.

Romney was the choice of 32% of Republican voters in the state, double the support of businessman Herman Cain, who was second at 15%, according to a Siena College Research Institute poll released Tuesday.

….. Fifty-seven percent of registered voters said they hold a favorable view of the president … He also carries a wide lead over Romney in a hypothetical matchup, 59%-34%.

Full article here

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MSNBC: In light of Herman Cain’s moment yesterday …. it’s worth noting that he wrote a book in 1999 titled “Speak as a Leader: Develop the Better Speaker in You.” In that book, he offers advice about public speaking, particularly on how to handle media interviews.

….. “First, if you know the topic ahead of time,” he writes, “plan the key points you want to make during the interview and be able to state those points in a variety of ways. If you will be doing frequent interviews with the press, then a media training course would be advisable in order to learn effective communication techniques. Second, there is no such thing as off the record. If you say it, then assume it might be used at some point. Third, expect the unexpected and be prepared to remain calm and professional.”

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Bloomberg: Republican presidential candidate Newt Gingrich said during a Nov. 9 debate that he earned a $300,000 fee to advise Freddie Mac as a “historian” who warned that the mortgage company’s business model was “insane.”

Former Freddie Mac officials familiar with the consulting work Gingrich was hired to perform for the company in 2006 tell a different story. They say the former House speaker was asked to build bridges to Capitol Hill Republicans and develop an argument on behalf of the company’s public-private structure that would resonate with conservatives seeking to dismantle it.

Full article here

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