David Lazarus: Freddie Mac bets against homeowners

As the Treasury Department asks whether Freddie Mac bet against homeowners, consumer columnist David Lazarus asks another question: What would George Bailey in "It's a Wonderful Life" do?

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News & Politics

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• lazarus
• los angeles times
• freddie mac

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House prices hit post-bubble low

Jan-31-2012-Since the depths of the recession, key aspects of the economy have rebounded.

The nation's output has grown. The stock market began an ascent.When it comes to the value of what many Americans consider their biggest financial asset, no such return appears in sight.

For millions of homeowners, that’s an unsettling reality, and potentially an issue in the presidential campaign. But the damage may be far more widespread.

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Deficit Again Expected to Top $1 Trillion

Jan-31-2012-- WASHINGTON—Tax increases and spending cuts scheduled to take effect in January 2013 would slow the economy and raise unemployment next year unless policy makers strike a deal to keep those changes from kicking in or offset their impact . The agency, in its semiannual budget and economic forecast, projected a $1.2 trillion federal deficit for fiscal year 2012, which ends Sept. 30, if Congress—as expected—

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Iran Says The End of the World Has Arrived

Jan-31-2012--New evidence has emerged that the Iranian government sees the current unrest in the Middle East as a signal that the Mahdi--or Islamic messiah--is about to appear.

never-before-seen video produced by the Iranian regime that says all the signs are moving into place -- and that Iran will soon help usher in the end times.

the Iranian regime believes the chaos is divine proof that their ultimate victory is at hand.

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Iran, perceiving threat from West, willing to attack on US soil, US finds

Jan-31-2012--US intelligence agencies believe that Iran is prepared to launch terrorist attacks inside the United States in response to perceived threats from America and its allies, the US spy chief said Tuesday.

That plot “shows that some Iranian officials — probably including Supreme Leader Ali Khamenei — have changed their calculus and are now more willing to conduct an attack in the United States

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'US ruling elites want to control planet'

Jan-31-2012--A court in the US State of New York has issued a subpoena to social networking service giant, Twitter, ordering the online company to surrender all relevant data of an Occupy Wall Street activist.

The New York court has also ordered Twitter to provide all the 'tweets' of Malcolm Harris from September 15 to the end of the year.

Harris is one of the oldest activists in the occupy movement.

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President Obama Speaks Before a Cabinet Meeting

Jan-31-2012--WASHINGTON - Seeking cooperation in a polarized climate, President Barack Obama called on Congress Tuesday to act quickly on bipartisan measures that would extend tax breaks for small businesses and help startup companies raise money.

He said he would sign the legislation "right away," to give entrepreneurs incentives to expand their businesses or start new ones.

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US Watchdog to Examine Freddie Mac Use of Floaters

Jan-31-2012--WASHINGTON—A federal watchdog said Tuesday it would examine Freddie Mac's use of a mortgage derivative amid allegations that such investments gave the mortgage company an incentive to prevent borrowers from refinancing their home loans. Concerns on Capitol Hill about Freddie Mac's investment in "inverse floaters," a derivative that invests in a certain piece of the cash flow in a mortgage-backed security. INFO-AWARENESS -

[JDNuvo]

Thanks for the 411. Did you hear about the Russian Nazi documentary? This guy on the internet was saying they were going to force people into work camps. Is there anything we can do to stop all of the mass hysteria the media is causing? People need jobs and the companies aren't hiring and no ones starting businesses. I heard this one company is trying to make money gardening for other people and growing food for them.. But they are in the DC area. I don't know if anyone cares.

[pinoyrawr]

go kings, u suck lakers