
There are no Indian Casinos in Orange County
Here are some quick comments on a several items: Secretary Paulson and Fed Chairman Bernanketestified again before our Financial Services Committee last Thursday. There were no bombshells. But it is becoming increasingly evident that there will likely be legislation to increase the participation of the Government Sponsored Enterprises (GSE’s – Fannie Mae, Freddie Mac, et al) in the home loan market. They will be allowed to guarantee and hold more loans, required to participate some more in some subprime loans, and be allowed in high-cost markets (like the greater LA area) to make loans in excess of the current $417,000 limit. In other words, more loans will be "conforming" and less "jumbos." This increased authority will becoupled… Read More