Word: conservatorship
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...strong arm of the conservatorship is felt in everything from Spears' curtailed spending to the weeding out of people who are considered bad influences. Even her downtime on the tour was carefully choreographed. When Spears' tour bus pulled into Pittsburgh, Pa., in March, the manager of the local Mad Mex restaurant didn't think twice about Spears' advance team's request: no flash photography, and her tables were not to be offered Red Bull or alcohol. Hard to argue with the results: a low-key meal devoid of drama. The most exciting thing the manager had to say was that...
...conservatorship has its critics. Onetime Spears confidant Sam Lutfi, who is appealing a long-standing restraining order brought by Jamie to keep him away from Britney, insists that he knows the pop star "is desperate to end the conservatorship." His take on the current scenario: "She's not entitled to her freedom yet able to make hundreds of millions of dollars for them by performing a world tour." And former Britney BFF Alli Sims believes the Britney machine doesn't stop the drama from happening but is simply more effective in squelching the tabloid stories. "She has so many people...
...estate editors, James Lockhart, head of the Federal Housing Finance Agency, said on Thursday the government shouldn't run Fannie Mae and Freddie Mac. Lockhart should know. He leads the agency that has been doing just that since last September, when the giant mortgage insurers were put into government conservatorship. Lockhart said his experience with Fannie and Freddie as well as helping to run other government insurance programs taught him that government ownership for these types of companies doesn't work. (See what to expect when the recession ends...
...better job of running Fannie and Freddie than the bottom lines of the two companies suggest. Most of the losses suffered by the mortgage giants, he notes, resulted from mortgages that Fannie and Freddie backed before they were taken over. Furthermore, part of the mandate of the current conservatorship has been to use Fannie and Freddie to stabilize the mortgage market and reduce foreclosures. Fannie and Freddie now back nearly 70% of all the mortgage loans made this year, a sign that the two companies have been active in helping people get new loans or refinance existing ones. And mortgage...
...acting chief financial officer of mortgage giant Freddie Mac, David Kellermann, 41, struggled with his company's being placed under conservatorship because of a $50 billion loss in 2008. Kellermann was found dead April 22, an apparent suicide...