gao

It was a year ago this week that the federal government seized ailing mortgage-finance giants Fannie Mae (FNM) and Freddie Mac (FRE). Their collapse, it was feared, could imperil the entire financial system. The takeover wasn't meant to be permanent, but a new congressional report illustrates why...

The Government Accountability Office (the people who audit the federal government) is already saying that the oversight of the $700 billion bailout is failing. And we're only a couple of months into the massive money grab. In particular, the GAO is saying that the Treasury Department has no idea...