Alan Grayson Discusses Fannie Mae's Use of Derivatives with James Lockhart of the FHFA

Rep. Alan Grayson explores Fannie Mae's use of derivatives with Federal Home Finance Agency chief James Lockhart in a Financial Services Capital Markets Subcommittee hearing on June 3, 2009.

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News & Politics

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• Alan
• Grayson
• Fannie
• Mae
• Politics
• Orlando
• finance
• derivatives
• credit
• default
• swaps

[pretorious700]

Actually, accepting this government we have now (and previous ones too, to be fair) at face value is the most mindless drivel of all. People are catching on to the scam. Career politicians "left" and "right" care about their careers, not the will of the people.

[dimon108]

How to Detect a Liar Using Body Language?

People who are lying will usually be very stiff. They may have a stiff body or neck.

Liars will usually touch their face or neck when fibbing. The higher they go up on the face the bigger the lie. (6:33)

[IncognitoShhh]

what is wrong with the sound? I cant hear any voices

[deeppurple28]

Forget you rejects, I am voting Grayson 2012!

[ConspiracyHist]

The Criminal Reserve of non federally unacountable fraud fucks! End the non-Fed!

[chiggerno19]

@BusterXXXL Translation: Congress acts and the consumer gets screwed - and Congress know it. Today, Dodd was discussing the Financial Reform Law and every other word was: if it works, we will see if it works, may not do everything.......While Obama promises that the taxpayer will never again be on the hook for the failures of big business/financial institutions. Which is it? Will work, won't work. They win either way.

[BusterXXXL]

@chiggerno19 The banks will always have the consumer pay the tab. They are private businesses after all. All the regulations do, is to force them to list all the numbers on the bill, before you sign it.

[chiggerno19]

You passed the Credit Card Act to protect consumers. Instead, the interest rates on my credit cards doubled even though I had not been late for 10 years. The banks are now going to do away with free services such as free checking. When are you going to learn that the banks are smarter than Congress and will find ways around your Financial Rules and the consumer gets stuck with paying the tab? If this is the Dems answer for fighting for the little people, then STOP IT!! I can't afford your HELP!!

[daveme7]

A lot of fox types do ot like Cong. Grayson. I am a conservative and so far wish more congressman would act like Grayson. Love his line Republican healthcare is to dies faster. i disagree with the healthcare plan but seeing that line wonder why Republicans did not think of this first-brilliant line. To me, because of his education and wish conservatives would teach those not so sophisticated about economics and finance

[wcknecht]

It's unclear whether when he says "exposure", is he talking about gross market value, net market value, or notional? He seems to be indicating notional. Not only is this not a meaningful measure of credit exposure, its misleading (notional amounts do not appear on the balance sheet).

[olgrunt1]

it is not hard to figger how they lost their ass they made loans to people then sold them to others who jacked up their payments after two or three times the origional borrower couldn't make the payment! DOUGH