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AP IMPACT: Mortgage firm arranged stealth campaign
WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.
In a sign of bad things to come, Freddie Mac was already having serious problems in 2005. Auditors had exposed massive accounting issues, so improved regulation was one obvious remedy.
http://news.yahoo.com/s/ap/20081020/ap_on_bi_ge/the_influence_game_housing
States warned about impending mortgage crisis
Bush administration, financial industry thwarted efforts to curb greed
More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation's top bank regulator.
http://www.msnbc.msn.com/id/27121535/
WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.
In a sign of bad things to come, Freddie Mac was already having serious problems in 2005. Auditors had exposed massive accounting issues, so improved regulation was one obvious remedy.
http://news.yahoo.com/s/ap/20081020/ap_on_bi_ge/the_influence_game_housing
States warned about impending mortgage crisis
Bush administration, financial industry thwarted efforts to curb greed
More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation's top bank regulator.
http://www.msnbc.msn.com/id/27121535/
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