James Lockhart News
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Venezuela cut off the transmission of a speech by opposition leader Henrique Capriles Radonski yesterday using a system of national broadcasts known as “cadena” after he said the government “stole” this month’s election.
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Fannie Mae refused to seek large amounts of mortgage repurchases from Countrywide Financial Corp. as housing began to crash, according to the former head of its regulator.
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The U.S. Treasury Department is exploring a plan that could help 1 million or more homeowners avoid foreclosure, according to housing market executives.
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A group of House Democrats is urging President Barack Obama to nominate a permanent director for the Federal Housing Finance Agency to replace an acting chief they say is standing in the way of aid for struggling borrowers.
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After the U.S. government snatched Fannie Mae from the brink of collapse in 2008 and forced out its chief executive officer, Daniel H. Mudd, he headed for the river.
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James Lockhart, vice chairman of WL Ross & Co., talks with Bloomberg's Tom Keene about the U.S. housing market. (Source: Bloomberg)
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Billionaire Wilbur Ross Jr. is losing one of his top executives as David Storper, a senior managing director and a member of the investment committee of WL Ross & Co., decided to depart in October.
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Wilbur Ross, chairman of private- equity firm WL Ross & Co., said he expects the U.S. to avoid another recession while entering a “subpression” marked by little economic growth and few new jobs.
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Efforts by Fannie Mae and Freddie Mac to force sellers to repurchase soured mortgages may be weakened by the replacement of their “very aggressive” regulator, Graham Fisher & Co. analyst Joshua Rosner said.
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Let’s boil down the Securities and Exchange Commission’s claims last week against six former Fannie Mae and Freddie Mac executives to their essence. Every disclosure that the SEC says amounted to fraud is something the government blessed or turned a blind eye to as it was happening.
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