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Why did the federal government take over fannie Mae and Freddie mac?
Wiki User
∙ 11y ago
The federal government took control of Fannie Mae and Freddie Mac on Sunday in a bid to keep the two mortgage giants from failing, catastrophes that would have made home loans harder to get and taken the nation's housing collapse to a new level of crisis.
Wiki User
∙ 11y ago
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How did fannie Mae become involved with the government?
Part of Roosevelt's depression recovery program. It was one of many "GSE" or government sponsored enterprises. Fannie Mae was later privatized. Greenspan and Bernanke have described Fannie Mae and Freddie Mac as private corporations, having an ambiguous relationship with our the federal government. As private corporations, they could generously reward their CEO's during the housing boom and have limited disclosure of their loans. Obviously, the take over removes this ambiguity. See: http://en.wikipedia.org/wiki/Fannie_Mae
Can the fed charter corporations?
Not really although they do have "dotted line" influence over such orgs as the Federal Reserve and Fannie Mae.
The constitutional power to regulate commerce allows the Federal Government to exercise control over?
The federal government can exercise control over interstate trade.
What issue did Daniel Webster and John Calhoun disagree on?
Calhoun believed in the expansion of states' rights over the federal government and Webster believed in the federal government more than the states' rights.
What is considered to be the Supreme Law of the Land giving the US Federal government power over state and local governments?
The powers of the Federal government delineated in the US Constitution, give the federal government its duty to enforce Federal laws granted to it by the Constitution. If the powers not mentioned to belong to the Federal government, are left to the States.
How did fannie Mae become involved with the government?
Part of Roosevelt's depression recovery program. It was one of many "GSE" or government sponsored enterprises. Fannie Mae was later privatized. Greenspan and Bernanke have described Fannie Mae and Freddie Mac as private corporations, having an ambiguous relationship with our the federal government. As private corporations, they could generously reward their CEO's during the housing boom and have limited disclosure of their loans. Obviously, the take over removes this ambiguity. See: http://en.wikipedia.org/wiki/Fannie_Mae
How much money did McCain get from Fannie and Freddie mac?
No candidate can accept money directly from companies including Freddie Mac or Fannie Mae. However, company employees can donate money to candidates. The New York Times has published a separate list looking at contributions from "directors, officers, and lobbyists for Fannie Mae and Freddie Mac" for the 2008 campaign cycle. That list - using figures from the Federal Election Commission - shows McCain receiving $169,000, while Obama received only $16,000. John McCain's campaign manager, Rick Davis, was hired-to the tune of nearly $2 million over five years paid almost exclusively by Fannie and Freddie-to head an advocacy group formed to lobby McCain and Congress against regulating Fannie Mae and Freddie Mac. Check the link below to CNN's Fact Check regarding this issue.
Have any of the candidates received any contributions from Freddie Mac or Fannie Mae?
Well the figure is not really a truth but there has been investigate and and numbers have been put out, approx 3.5 million from BOTH COMPANIES No candidate can accept money directly from companies including Freddie Mac or Fannie Mae. However, company employees can donate money to candidates. The New York Times has published a separate list looking at contributions from "directors, officers, and lobbyists for Fannie Mae and Freddie Mac" for the 2008 campaign cycle. That list - using figures from the Federal Election Commission - shows McCain receiving $169,000, while Obama received only $16,000. John McCain's campaign manager, Rick Davis, was hired-to the tune of nearly $2 million over five years paid almost exclusively by Fannie and Freddie-to head an advocacy group formed to lobby McCain and Congress against regulating Fannie Mae and Freddie Mac. Check the link below to CNN's Fact Check regarding this issue.
What politicians took money from fannie Mae and Freddie mac?
Suposedly Newt Gingritch and Mitt Romney both collected over a million dollars from fannie Mae/Freddie mac. If the two most up front polititions in america both collected this money, how many others have? And that was the reason for the housing market crash? Is this like a giant watergate?
Can the fed charter corporations?
Not really although they do have "dotted line" influence over such orgs as the Federal Reserve and Fannie Mae.
Does federal government have authority over state government?
no
The constitutional power to regulate commerce allows the Federal Government to exercise control over?
The federal government can exercise control over interstate trade.
When a president dies can the state do the autopsy or does the federal gov take over?
The federal government takes over
What is the difference between federal and state government?
The Federal Government is headed by the president while a State Government is headed by a governor.
Why is the government set forth in the constitution called a federal system?
granted the federal government control over interstate commerce.
Who should have the final say over lands currently under federal control the states or federal government?
federal
Who should have final say over lands currently under federal control the states or the federal government?
federal
