The IRE Resource Center is a major research library containing more than 23,250 investigative stories — both print and broadcast. These stories are searchable online or by contacting the Resource Center directly (573-882-3364 or rescntr@ire.org) where a researcher can help you pinpoint what you need. Browse or search the tipsheet section of our library below. Stories are not available for download but can be easily ordered by contacting the Resource Center:
Search results for "government-sponsored enterprises" ...
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Sallie Mae
Sallie Mae, started in 1972 as a government sponsored enterprise meant to "encourage private banks to loan to students who were considered to be a credit risk," pushed became a private lender in 1997. Since then, the stock price "has gone up almost 2,000 percent" and company executives have become among the highest paid in the nation. CBS' 60 Minutes investigates, and explores the question of whether it's appropriate for Sallie Mae to act as both a lender and a collector.
Tags: Sallie Mae; student loans; student loan default; Higher Education Act; U.S. Department of Education
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Holding GSEs to Accounting Standards
Fannie Mae and Freddie Mac are the nation's fourth and fifth largest financial services companies. They hold a combined $1.5 trillion in loans and mortgage-backed securities on their books and guarantee payment on another combined $2.4 trillion in MBS held by other investors. Both the Federal Reserve and Bush Administration think the companies have grown too big, too fast and worry that they could upend the broader markets if their interest-rate hedges are wrong and there's a sudden and unexpected rate shift in the opposite direction. Kopecki broke the news that Fannie's accounting woes stretched far beyond those the government-sponsored enterprise previously disclosed. Kopecki also chronicled the problems with two Federal Home Loan Bank System board members suspected with using non-public information to sell large stakes of the Bank's stock.
Tags: GSE; government-sponsored enterprises; financial services companies; insider trading; loans; mortage-backed securities; accounting
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Sibilings Fat and Sassy
Government sponsored enterprises Fannie Mae and Freddie Mac are two of the largest and most powerful players in the national financial markets. Competitors and some members of the legislature are starting to balk at the heft that the two companies bring to the table. More regulations could be on the way but not without a political fight.
Tags: mortgages