Created by the federal government during the Great Depression, Fannie Mae became a Washington powerhouse: a highly profitable, private company, protected by the government and boasting huge lobbying clout. But today, Fannie Mae has essentially become a ward of the state.
Credit Manuel Balce Ceneta / AP
While Fannie Mae's public image has been tarnished since the housing collapse, executive Kimberly Johnson says she actually likes "being at the center of the storm."
The collapse of the housing market has led to plenty of finger-pointing in Washington. Two easy targets are Fannie Mae and Freddie Mac.
These government-backed mortgage giants had to be rescued by taxpayers and now owe the government $188 billion. Still, Fannie and Freddie, which currently make the vast majority of home loans possible, are crucial to supporting the housing market right now.
Framed in my library is a sketch that LeRoy Neiman dashed off of me on the back of a menu, when he was watching me speak several years ago. LeRoy, who died the other day, was somewhat better known for another sketch, the "nymphette" that has appeared in Playboy since 1955 — but, of course, he's ever famous for simply being our most celebrated sports artist.
As Arizona officials prepare to apply the one provision of the state's immigration law upheld by the U.S. Supreme Court, some local authorities doubt they can properly enforce it.
"We will do our best to enforce the law. But we are in uncharted territory on this issue," Tucson Police Chief Roberto Villasenor said in a statement released by the Police Executive Research Forum, a nonprofit organization of police chiefs. The group says the law "will seriously undermine local law enforcement."
Two big pieces of news in Mexico's presidential race today:
-- A new poll finds that the PRI's Enrique Peña Nieto has maintained a big lead over his rivals Andrés Manuel López Obrador and Josefina Vázquez Mota. The election is this Sunday and a few polls before this one showed Obrador had narrowed the gap.
If the partners in love happen to be living in a nursing home, there are even more challenges. And if they're showing signs of dementia, then things get really tricky.
Although no law forbids intimate relationships between people with dementia in nursing homes, staff and family members often discourage residents from expressing their sexuality, says a recent report in the Journal of Medical Ethics.
Congressional leaders on Tuesday said they were close to a deal to solve two big issues facing lawmakers — student loan interest rates and federal highway funding.
Both issues with looming deadlines have high stakes for middle-income Americans: If Congress fails to reach agreements by this weekend, the federal highway program would come to a halt, and student loan interest rates would double, to 6.8 percent.
President Obama has been hammering on the issue of student loans for days.
The Oracle Racing AC45 catamarans practice in the San Francisco Bay in February. The AC45 is a smaller version of the AC72, which teams will race in next year's America's Cup Finals in 2013.
Credit Ezra Shaw / Getty Images
The Oracle Racing AC45 catamaran skipped by James Spithill competes in the America's Cup World Series in Cascais, Portugal in August 2011. The Oracle Team USA sailors are also competing in the final leg of this year's regatta in Newport, R.I.
An America's Cup sailing event is being held to Newport, R.I., for the first time in 29 years. Sailors began arriving in Newport last week for the final leg of the America's Cup World Series regatta, which has been held at stops all across the world to gin up excitement for the official America's Cup next year in San Francisco.