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Washington
Inside Washington (04/19/2011)
* WASHINGTON (4/20/11)--A Federal Deposit Insurance Corp. (FDIC) report issued earlier this week claims that regulators in 2008 could have successfully wound down Lehman Brothers Holdings Inc., avoiding further shock to the market and preventing a taxpayer-funded bailout, if the powers given to the agency by the Dodd-Frank Act had been in place. (Reuters, 4/19/11) Critics have said that the FDIC’s claims, which were made in a 19 page document, are overly optimistic. The FDIC’s pending resolution authority, which is set to come into effect later this year, would allow that agency, with the approval of other regulators, to temporarily operate troubled holding companies or insurance firms until they can be sold or shut down… * WASHINGTON (4/20/11)—A 43-member group of House Democrats late last week called for “reforms that reduce the risk to taxpayers and that create conditions for the private sector to play a larger role in the secondary mortgage market." The group has also called for the eventual winding down of mortgage backers Fannie Mae and Freddie Mac, American Banker reported. Among the mortgage reforms touted by Reps. Jim Himes (D-Conn.), Gary Peters (D-Mich.) and others are a strong private market and maintaining 30-year fixed-rate mortgages.


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