Fannie and Freddie
President Obama is launching a new economic recovery plan which involved disgraced firms Fannie Mae and Freddie Mac.
"The plan is, from early details, to open the gates to massive refinancing for borrowers with loans owned or guaranteed by Fannie Mae and Freddie Mac. Since Fannie and Freddie are under conservatorship by the federal government, the loans are actually backed by the U.S. taxpayer. And many of the loans guaranteed by Fannie and Freddie are actually owned by private investors, including middle-class investors who participate in pensions and 401(k)s. Although banks handle paperwork with these mortgages, they often don’t own them. They are merely 'servicers' who collect fees from owners of the loans."
In a new Halloween edition of "Alcohol Regulation Roundup," Policy Analyst Michelle Minton outlines new changes in alcohol regulations around the nation.