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As they head into their third election since their 2010 Pledge to America, House Republicans have checked off some of the easier items they promised voters, but most of the heavy lifting remains a work in progress — and on some, including imposing spending cuts, they've recently begun to backtrack.
In a fresh sign that lessons from the financial crisis six years ago haven’t been fully heeded, the government-backed mortgage giants Fannie Mae and Freddie Mac bought billions of dollars of mortgages last year despite red flags suggesting something could be wrong with their appraisals, investigators disclosed Thursday.
Henry M. Paulson Jr., the financial firefighter stationed at the epicenter of the biggest financial crisis since the Great Depression, worries that the nation is headed for another crisis because political leaders failed to learn critical lessons from the last one from 2008.
Morgan Stanley said Tuesday that it has agreed to pay $1.25 billion to resolve a lawsuit over mortgage securities with the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac.
Commentator Charles Krauthammer produced a wickedly provocative piece recently given the headline "Stop the bailout — now.'' He was talking about the looming bailout for the big insurance companies that are looking more and more like saps in their support of President Obama's health care law.
The federal budget is looking much better in fiscal 2014, according to new estimates the Congressional Budget Office released Wednesday that show the government ran a $44 billion surplus in December and is well ahead of last year's pace.
Senate Minority Leader Mitch McConnell announced Thursday that he will oppose President Obama's pick to be the next head of the scandal-plagued IRS because of the recent rule change Senate Democrats muscled through regarding the confirmation of presidential nominees and because of the ongoing investigation into the additional scrutiny the Internal Revenue Service gave to conservative groups.
Capitol Hill has been awash recently with various ways to reform Fannie Mae and Freddie Mac, the government-sponsored enterprises, or GSEs.
President Obama and Senate Democrats pushed through a raft of administration nominees this week after changing the chamber's rules, leaving Republicans to consider a dwindling array of tactics to check the president's power.