Freddie Mac is in the home mortgage business. It is their jobs to help low income families find affordable housing. Freddie Mac has been in business since 1970. They were created in order to get more American families in to their own homes. Their mission statement says, “Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market” (FreddieMac.com, 2014). Despite this honorable mission statement, Freddie Mac was involved in a case of accounting fraud that
not amount to fraud. These fraudulent acts are investigated by government agencies and often change the reputation, structure, and prosperity of a company. Fannie Mae (Federal National Mortgage Association, or FNMA) was established in 1938 during the Great Depression as part of the New Deal. FNMA is a government sponsored enterprise (GSE) - a publicly traded company which operates under a Congressional charter. Fannie Mae was created to stimulate homeownership and expand the
and foremost among these is the Federal Reserve. After the Panic of 1907 had occurred, the public was clamoring for a better regulated financial system. This resulted in the establishment of the Federal Reserve, which was poised to regulate banks and be a lender of last resort. It currently has the power to regulate federal banks, financial holding companies, securities holding companies, and thrifts. It can also regulate state banks that belong to the Federal Reserve System, foreign banks that
Freddie Mac is a financial services company. Congress chartered the company in 1970 with the statutory mission of providing liquidity, stability and affordability to the U.S. housing market. According to the company’s website, Freddie Mac’s main line of business is buying mortgage loans and mortgage related securities in the secondary market. Since they operate in the secondary market, Freddie Mac does not issue mortgages themselves but they buy mortgages, as whole loans, and mortgage backed securities
Medical Center leadership regarding Mental Health programs or new initiatives regarding homeless Veteran outreach activities. * Organizes data in preparation for oversight/accreditation site visits: Joint Commission, Office of Inspector General (OIG), Commission on Accreditation of Rehabilitation Facilities (CARF) and VA specific oversight groups. * Provide analysis of Mental Health performance data utilizing the Strategic Analytics for Improvement and Learning (SAIL) system, Veterans
Government Spending of Tax Dollars Taxes are the dollars that we pay to government to supply the services that are not or can not be provided through the free enterprise system. Taxes have been around since the beginning of organized societies. They come in various forms. Most common are income taxes both federal and local government. These taxes are assessed on the amount of income a person earns. Other taxes come in the form of user taxes; these taxes are imposed on the people that are using
The reading that was investigated consisted of a case study from Marianne Jennings entitled “Fannie Mae: The Most Ethical Company in America”. Jennings (2009a) writes about how Fannie Mae’s ranking was number one in the United States of America in 2004 as being the most ethical company. Jennings (2009a) writes that CEO Franklin Raines challenged his employees to double Fannie Mae’s earnings per share (EPS) within five years from $3.23 to $6.46. Consequently, this enabled employees and managers
The Federal Reserve - It's Time to Put an End to Central Bank Independence If "taxation without representation" could rally the colonists against the British Crown in 1776, tight money and ruinous interest rates might be cause for populist revolt in our own day. Federal Reserve monetary policy also has severe social burdens, measured by huge changes in aggregate output, income, and employment. The imperious Fed, much like the English Crown two centuries ago, formulates and carries out its
Corrupt Drug Trafficking The CIA’s 50-year history of smuggling drugs into America is generating hatred for the United States throughout the world. Like Pontius Pilate, CIA washes their hands of the human tragedies and the corruption of government offices. They do this by remaining and by refusing to recognize the evidence, supporting corruption. For the past 50 years, the CIA has abused its power by deliberately drugging and corrupting America; and therefore should be prosecuted. According to the
Potter himself represents the concept of a monopolist. He almost has a complete monopoly over the rental housing, except for the fact that George's operation provides an alternative choice to having to rent a house. People are able to borrow money from George and his institution and build a house of their own if they want to. Mr. Potter tries incessantly, yet