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Toledo Mayor – Leaping Without Looking
Everyone knows that President Barack Obama has been pushing for an eight hundred billion dollar economic stimulus plan to get passed through Congress. One house has approved the bill while the other one is still debating its approval. The lack of official approval, however, has not stopped everyone and their dog from planning how they will spend their share of the package – Todedo’s Mayor Carty Finkbeiner among them.
Why Did Freddie Mac and Fannie Mae Go Under?The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, was created by Congress in 1970 to make possible a secondary mortgage market to provide greater liquidity to banks and other lending institutions to facilitate home mortgage lending. The Federal National Mortgage Corporation, also known as Fannie Mae, was originally created by the Federal Housing Authority (FHA) in 1938. In the beginning, Fannie Mae would securitize FHA loans, and it was the first to create a secondary mortgage market.
