Edward J. DeMarco, who has served as acting director of the Federal Housing Finance Agency since 2009, gave a Senate panel an update today on the FHFA’s oversight of Fannie Mae and Freddie Mac. It’s unclear how much longer he’ll be guiding those efforts.
President Barack Obama’s proposal to wean the Tennessee Valley Authority from the U.S. government faces the same obstacles that have frustrated privatization advocates since President Dwight Eisenhower termed the state- controlled power company “creeping socialism” in the 1950s.
Lawmakers from states with auto factories and an association of U.S. carmakers expressed opposition to a deal with Japan to reduce vehicle tariffs and enable the Asian nation to join Pacific-region trade talks.
It seems like an idea all Republicans would love: the U.S. sells the largest federally owned power company, paying down debt and ending a project begun at the height of the New Deal’s government expansion.
Michigan lawmakers and an association of U.S. automakers expressed doubts about a deal with Japan to reduce vehicle tariffs and pave the way for the Asian nation to join talks aimed at a Pacific free-trade accord.
The International Monetary Fund’s Christine Lagarde used the word “challenging” to describe the Cyprus rescue to which she pledged $1.3 billion. She might say the same about where the IMF stands with the U.S. Congress.
The U.S. is taking needed “precautionary” steps to bolster its missile defense system on the West Coast because of recent threats by North Korea, said Senator Bob Corker of Tennessee, the top Republican on the Senate Foreign Relations Committee.
Two years ago, Volkswagen AG opened a $1 billion manufacturing facility in Chattanooga, Tennessee, that employs 3,300 Americans and makes 150,000 cars a year for the U.S. market and for export to Canada, Mexico and South Korea.