Daily Kos on Mitt Romney’s investment in Fannie & Freddie

http://www.dailykos.com/story/2011/09/20/1018676/-Mitt-Romney:-Fannie-and-Freddie-suck-Thats-why-I-invest-in-them?via=siderecent

The Boston Globe noted today that GOP presidential candidate Mitt Romney, who has a habit of lambasting the “failures” of government-backed mortgage giants Fannie Mae and Freddie Mac, has been profiting from investments in the two firms:    

“On his financial disclosure statement filed last month, Romney reported owning between $250,001 and $500,000 in a mutual fund that invests in debt notes of Fannie Mae, Freddie Mac, among other government entities. Over the previous year, he had reported earning between $15,001 and $50,000 in interest from those investments.”

.. . .

DK update:

Romney made the investment in a mutual fund called the Government Obligation Fund, managed by Federated Investors Inc. The fund invests in a wide variety of sources, including government agencies and US Treasury notes. But out of a $28.5 billion portfolio, nearly half of the fund was in Fannie Mae, Freddie Mac, and Federal Home Loan Bank notes, according to an SEC filing made in April.

In addition to Fannie Mae and Freddie Mac, the fund also has investments in investment agreements with several banks that received federal bailout money, including Bank of America, Goldman Sachs, Wells Fargo, and JP Morgan.

This entry was posted in 2012 Presidential Candidates, Political News - DC, Political News - MA. Bookmark the permalink.

43 Responses to Daily Kos on Mitt Romney’s investment in Fannie & Freddie

  1. Barbie says:

    Mitt Romney feels past President Bill Clinton "embarrassed the nation" with the Monica Lewinsky scandal, but doesn't believe it can be an issue in 2016 in the event that Hillary Clinton goes for president.
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    “He embarrassed the society,” Romney claimed of Clinton. “He breached his duty, I do think, as an adult and as a leader in his marriage. And I think that’s quite regrettable. But I don't consider that's Hillary Clinton's to describe.

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