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Recently, two large players in the mutual fund business, Citigroup and Merrill Lynch, sold off control of their fund businesses to smaller, more specialized organizations. In addition, many smaller investment advisory organizations have been leaving the field,...
Congress created the credit union charter in 1934 to establish small, local, mutual associations of “people of small means seeking to protect themselves from high rate money lenders.” A lot has changed in the intervening seventy years, including the transformation of many formerly mutual organizations into stock-issuing corporations, and the...
When the bubble deflated in 2007, an unprecedented number of weak mortgages went into default - those that were held or guaranteed by Fannie and Freddie, and those that had been securitized by Wall Street. This drove down housing prices and threw Fannie and Freddie into insolvency.
Many predict calamity for the housing market without government mortgage guarantees, but Federal Reserve data tell a different story. The data should have a profound effect on the question of whether to replace Fannie and Freddie with another government-backed system.
The Committee believes that the federal safety net that was extended to money market mutual funds could be removed by marking their portfolios to market on a daily basis.
As Congress prepares to debate how to replace Fannie Mae and Freddie Mac, those in politics and real estate who support a government-backed housing finance system are predicting calamity.
Somewhere in the alphabet soup of institutional acronyms--WTO, G-7, G-20, IMF--it would seem there might be one that could prompt China to revalue its currency. Certainly, Washington's had little luck on its own.
Opponents ofcredit-union charter conversion to banks do not havea reasonable position.





