Word: mac
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...Timmons and Company, a small but influential lobbying firm he founded in 1975 shortly after leaving the White House. According to Senate records, he registered to lobby in 2008 for a wide range of companies and trade groups, including the American Petroleum Institute, the American Medical Association, Chrysler, Freddie Mac, Visa USA and Anheuser-Busch...
...what is getting to be something of a habit, Treasury Secretary Hank Paulson ruined his own and a lot of other people's weekend by choosing the morning of Sunday, Sept. 7, to announce the seizure of money-losing mortgage giants Fannie Mae and Freddie Mac...
...What are Fannie and Freddie again? Fannie Mae and Freddie MAC--let's call them Frannie for short--are mortgage lenders. They don't make loans directly but buy them from banks, thrifts and mortgage companies that do. They hold on to some loans but repackage most of them as mortgage-backed securities (MBSS) and sell them to investors, thus sustaining the flow of money into the real estate market...
Fannie Mae began life in 1938 as the Federal National Mortgage Association, a New Deal government agency, and was privatized in 1968 to get its debts off the government's books. Two years later, Congress created Freddie Mac, the Federal Home Loan Mortgage Corp., in part to give Fannie some competition. The firms became odd hybrids--government-sponsored enterprises (GSES) accountable to private shareholders. And they got away with holding only tiny capital reserves to insure against losses in their giant portfolios--partly because of their quasi-governmental status and partly because mortgages were supposed to be safe...
...step toward creating a friendlier campus for students of all races. During a summer he spent working for the Crimson Summer Academy, Turner said there was an instance in which HUPD officers sat in a police cruiser monitoring the students participating in program while they played frisbee in the MAC quad, a fact the students noticed and later commented on to Turner. “I don’t think that the HUPD is walking around targeting black students,” he said. “I think it’s more about improving their sensitivity training...