WASHINGTON— A federal regulator says government-controlled mortgage giants Fannie Mae and Freddie Mac have reached an agreement with major banks that could expand lending. The head of the Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the deal Monday at a conference of the Mortgage Bankers Association in Las Vegas.» Read More
In a remote desert spot in northern Nevada, there is a geothermal plant run by a politically connected clean energy start-up that has relied heavily on an Obama administration loan guarantee and is now facing financial turmoil. The New York Times reports.
One of the most prominent advertising spaces in Times Square is soon to be occupied by a Chinese brand. Xinhua, the news agency operated by the Chinese government, is leasing a giant sign, known as a spectacular, on 2 Times Square, the building that is the northern anchor of the district. The NYT reports.
"The idea that Congress is so dysfunctional that they can't cut their budget by more than 1% or 2%, when you contrast that to the re-pricing of the entire housing stock for the U.S., it's a complete disconnect." ...A report from TheStreet.