Following
the
Money, June 7
-- Even as the
predatory
lending
meltdown
continues
to
reverberate,
from HSBC's
scam
foreclosures
to Wells
Fargo's
discriminatory
follow-through
on the
buildings that
it's seized,
from
Wall Street to
Washington the
games
continue.
Hedge
funds that
profited on
the way down
from the
collapses, for
example
Paulson &
Company, the Carlyle
Group's
Claren Road
Asset
Management and
Perry Capital,
are now buying
up the
preferred
shares
of Fannie Mae
with a eye to
taking it
private.
They
are buying in
the markets,
with little
disclosure or
oversight, and
lobbying in
DC. Also in
the mix is
James
Millstein,
"fixer"
of AIG, now
ready to cash
in through,
what else,
Milstein &
Company.
On
the other
side, Fannie
Mae has become
a grab-bag,
with fees
imposed
on mortgages
for entirely
unrelated
government
goals. Who
wouldn't
want such a
pinata?
Meanwhile
a
former
Deutsche
Banker who
went to the
Consumer
Financial
Protection
Bureau, Raj
Date, has now
left to start
his own firm
to
make money off
the crisis.
Fenway Summer,
he spins it.
He's said to
advise
McKinsey &
Company too.
The fox, it
turns out, was
watching the
hen house.
Inner
City Press previously
dueled with
Carlyle's
spin-machine
on Jay
Powell's
nomination to
the Federal
Reserve Board,
here.
A
nomination
floated that
please Obama's
base, Mel Watt
for FHFA,
turns
out to be
trading chip,
and Watt to be
more pro
industry even
that
the man in
place. He
represents
Bank of
America's
district, the
same
Bank of
America
targeted for
Wells-like
disparities.
The White
House
has been
pitching: Mel
because of who
he is could do
things that
others could.
Viewed through
this PRISM,
can you hear
me now?
And
so: what's
been learned?
Very little.
As the song
goes, it's all
about the
money. Watch
this site.
, 
