A federal investigation into a Virginia businessman’s political ties is threatening to harm the reputations of Republican Governor Bob McDonnell, an often mentioned prospective presidential candidate, and the man running to replace him.
For years, the White House and many lawmakers have been saying the government needs to put Fannie Mae and Freddie Mac out of their misery. Yet they live on. And now their stock charts look like electrocardiograms.
Fannie Mae and Freddie Mac shares surged to five-year highs last week, giving them a combined market value of $48 billion, about the same as BlackRock Inc., the world’s largest money manager, and Starbucks Corp., the biggest coffee-shop operator.
A bipartisan group of U.S. senators is putting the final touches on a bill that would liquidate Fannie Mae and Freddie Mac and replace them with a government reinsurer of mortgage securities behind private capital.
U.S. Senator Mark Warner placed the odds for a bipartisan debt-reduction deal at better than 50-50, and outlined plans to roll out fresh ideas in the coming weeks on where to find the revenue to finance it.
As the Senate prepares to vote tomorrow on advancing gun control legislation, advocates and foes are accelerating lobbying efforts. A prime target: Virginia Senator Mark Warner, a Democrat with an “A” rating from the National Rifle Association.
U.S. bank regulators are boosting efforts to set up agreements for shuttering failing banks with officials in overseas hubs such as Switzerland and Japan, said Federal Deposit Insurance Corp. Chairman Martin Gruenberg.
Senator Mark Warner said his bipartisan group of six senators working to strike a deal to cut the national debt is considering a plan to slash $3 in federal spending for every $1 of tax revenue it raises.