Items Tagged with 'Richard Shelby'

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  • From HW Magazine

    Senate flip

    How much will Republicans actually do in the next two years?
    Some economists believe the Republican sweep of both the Senate and House will reduce gridlock, increase pro-business legislation, and perhaps even lead to tax and immigration reform. One thing’s for certain — Democratic efforts to raise the minimum wage are now dead in the water.
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  • The behind-the-scenes push to get rid of Edward DeMarco

    A couple weeks ago I was having a beverage with a former comrade from the trenches of mortgage research (He's now a big money manager). My comrade took me to task for criticizing outgoing Federal Housing Finance Agency Acting Director Edward DeMarco's performance at a September congressional hearing on the GSEs. What did I expect? he asked. Congressional Banking Committee leadership had just sandbagged DeMarco for courageously going after the banks that issued the private-label mortgage securities rotting in Fannie and Freddie's portfolios.
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  • Rushing to Reform, Finance Legislation May Do More Harm than Good

    In a letter to the US Senate Committee on Banking yesterday, 21 trade groups representing the various dimensions of the mortgage finance business voiced concerns that current considerations on regulatory reform may be moving too quickly – without taking into account the potential adverse consequences these new mandates may render unto the economy-at-large.
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  • Dodd Retains Position, Vows to Focus on Housing Needs

    As President-elect Barack Obama begins his transition into the White House, the usual amount of shuffling is taking place within governmental staff. Senate Committee on Banking, Housing and Urban Affairs chairman Chris Dodd, D-Conn. has said he will stay on as chairman in the 111th Congress and work with ranking member Richard Shelby, R-Ala. and the new Obama Administration "to build an economy that is strong and in which every American has the opportunity to succeed."
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  • Deal or No Deal?

    Remarks earlier Thursday by key legislators that a deal on a proposed bailout package had been reached were contested by Sen. Richard Shelby (R-AL) who said no such deal had been reached.
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  • Questions, Partisan Demands Surround Financial Bailout

    The mother of all bailouts is upon us -- the only question now is who gets a life jacket, and who doesn't. We may not yet have details on the plan to create a "troubled asset resolution program," or TARP as some are now calling it, but it hasn't taken long for Congressional Democrats to weigh in on the matter -- various published reports Friday said that Democrats have demanded that any plan to created an entity to buy up bad bank assets be tied to further mortgage relief for troubled borrowers.
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  • Housing Package Set For House Approval; Bush Drops Veto Threat

    A little fear over the possible future of Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] is apparently all it took to put enough momentum behind a behemoth housing package that has been bouncing throughout Congress since May -- on Wednesday morning, White House press secretary Dana Perino told reporters that President Bush would not veto the bill, likely clearing the way for passage later today by the House of Representatives. News broke late Tuesday that House and Senate lawmakers had reached a compromise on the final bill, as well.
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  • White House: Time is Running Out on Housing Bill

    A housing bill frozen in the Senate is "running out of time," White House spokesperson Tony Fratto said in a press conference Tuesday. Softening the administration's stance on proposed housing relief legislation set to be at the top of Congress' list after the July 4 break, Fratto said that President Bush wants to see a housing bill "as soon as possible." "The Senate put off a lot of work," he said. "They've been in session for a long time and some very critical pieces of legislation got put off for yet another recess, and now this last session is getting pretty close to the August recess."
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