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  Monday, 14 Feb 2011 | 11:47 AM ET

Former IndyMac CEO's Lawyer Blasts SEC

Posted By: Ash Bennington

An attorney representing former IndyMac CEO Mike Perry fired back at the SEC, in the wake of the agency's fraud charges against their client on Friday .

Here are some highlights from Perry's attorney Jean Veta, a partner at Covington & Burling:

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  Monday, 14 Feb 2011 | 10:42 AM ET

How to Eliminate the Mortgage Interest Subsidy Without Raising Taxes

Posted By: John Carney
Mortgage application
Mortgage application

President Barack Obama unveiled his $3.73 trillion spending blueprint today. It promises $1.1 trillion in deficit savings over the next decade through spending cuts and tax hikes, including slashing the mortgage interest deduction for Americans already paying the top tax rates.

It’s good that Obama has put the mortgage interest deduction on the table. This is a huge housing subsidy that severely distorts the economy. But Obama doesn't go far enough. The mortgage interest deduction should be eliminated altogether.

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  Monday, 14 Feb 2011 | 8:48 AM ET

President Obama Proposes $1.1 Billion in Budget Cuts—and the Debate Begins

Posted By: Ash Bennington
  Monday, 14 Feb 2011 | 8:40 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin

Happy V-Day boys \(and girls\). Let's get on with it so you can beg, bribe or keep hitting refresh on opentable.com if you didn't already snag a spot for tonight yet. As for me, gents, I'll be reading about the FTSE and catching up on The Post's "Client 9" love column tonight.

» Read More
  Monday, 14 Feb 2011 | 7:07 AM ET

Bess Levin Humiliates a Hedge Fund Executive

Posted By: John Carney

As a general rule, hedge funds hate publicity.

They do everything than can to kill stories being written about them—especially any story they think puts the fund in a negative light. Hedge fund executives have lied to me, sued me, threatened to have me fired, and one guy from an English hedge fund once told me that if I went with a story I was working on about his fund, he would buy the building I lived in and have me evicted.

» Read More
  Friday, 11 Feb 2011 | 8:14 PM ET

Surprise! Republicans Actually Like Obama's Frannie Plans

Posted By: Ash Bennington
  Friday, 11 Feb 2011 | 6:51 PM ET

SEC Charges Former IndyMac CEO and CFO With Securities Fraud

Posted By: Ash Bennington

The Securities and Exchange Commission filed securities fraud charges against three former IndyMac executives—including the former CEO and two former CFOs of the company.

The SEC complaint alleges that the former IndyMac executives made false and misleading claims in the company's 2007 annual report—as well as in offering materials for a $100 million stock offering.

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  Friday, 11 Feb 2011 | 5:00 PM ET

How to Catch A Train in Burma

Posted By: John Carney
  Friday, 11 Feb 2011 | 3:32 PM ET

Don’t Look Now, but the Obama Administration Just Proposed Creating Fannie Mae All Over Again

Posted By: John Carney
CNBC

It’s welcome news that the Obama administration proposes to wind down the mortgage giants Fannie Maeand Freddie Mac.

Unfortunately, this news is coupled with something far less welcome—a proposal to recreate the government sponsored entities all over again.

» Read More
  Friday, 11 Feb 2011 | 2:54 PM ET

What's Worse Than Losing Egypt's Presidency? Answer: Losing $40 Billion

Posted By: Ash Bennington
Egyptian President Hosni Mubarak
Getty Images
Egyptian President Hosni Mubarak

The news for Hosni Mubarak keeps getting worse: First he loses power in Egypt—now the Swiss government has announced that Switzerland is freezing accounts belonging to Mubarak and his family.

Some believe Mubarak may lose up to $40 billion if things really go south for him.

That hypothetical involves two principal assumptions: First, an estimate of the Mubarak family's enormous wealth; second, that Egyptian protesters will get their way—and have corruption charges brought against the Mubarak clan, which will result in the disgorgement of substantial amounts of cash.

» Read More

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