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08/19/09 - 03:23 PM EDT
NEW YORK (TheStreet) -- James Lockhart, who until recently oversaw bumbling mortgage giants Fannie Mae (FNM Quote) and Freddie Mac (FRE Quote), on Wednesday became the latest example of the symbiotic -- and some would say too-cozy -- relationship between government regulators and financial companies.
Lockhart had worked in the government for more than a decade, starting with his Navy service, and through several roles in both Bush administrations, including the Social Security Administration and the Pension Benefit Guaranty Corp. "With his extensive government experience, deep knowledge of the U.S. mortgage markets and strong background in public/private finance, Jim is ideally qualified to help expand the financial services portfolio of the funds we manage," Ross said in a statement. "Our investment team will benefit from Jim's unique insights into the U.S. mortgage markets, which will help us expand the compelling investment opportunities we can offer our institutional and individual clients." WL Ross has been actively searching for deals to purchase troubled or failed banks, and was part of a consortium that successfully bid on BankUnited earlier this year. Ross is hoping to coax the Federal Deposit Insurance Corp. into easing proposed restrictions on private equity firms that want to purchase bad banks. "I assure you that my firm will never again bid if the proposed policy statement is adopted in its present form," he wrote in a late-July letter to the FDIC. < Previous 1 2 Next > Email Print Rss TSCM.Share = { show:function(evt){ var pop = YAHOO.util.Dom.get("share_links_popup"); var xy = [evt.clientX,evt.clientY]; // YAHOO.util.Event.getXY(evt.target); xy[0]+=16; // YAHOO.util.Dom.setXY(pop,xy); YAHOO.util.Dom.setStyle(pop,"display","block"); // YAHOO.util.Dom.setXY(pop,xy); }, close:function(){ var pop = YAHOO.util.Dom.get("share_links_popup"); YAHOO.util.Dom.setStyle(pop,"display","none"); }, init:function(){ var sharelink = YAHOO.util.Dom.get('socialmedialinks'); YAHOO.util.Event.on(sharelink,"click",function(e){ TSCM.Share.show(e); }); }, link:function(t){ var url; if(t.toLowerCase() == "favorites"){ try { if (window.external) { window.external.AddFavorite(document.location.href,document.title) ; }else if(window.sidebar){ window.sidebar.addPanel(document.location.href,document.title); }else{ alert("Sorry, your browser does not support this feature."); } }catch(e){ } } for(var i =0;i CLOSE delicious facebook newsvine stumbleupon myspace favorites reddit twitter adsonar_placementId=1341527;adsonar_pid=879768;adsonar_ps=-1;adsonar_zw=600;adsonar_zh=280;adsonar_jv='ads.adsonar.com'; Featured Photo Galleries var galljs = document.createElement('script'); galljs.src = 'http://js.thestreet-static.com/files/tsc/v2008/js/_1250481600100/min/pages/gallery.js'; var head = document.getElementsByTagName('head')[0]; head.appendChild(galljs); Go to Slideshow Archive Your Recent Quotes: 0 | 0 Dow S&P 500 NASDAQ Oil* 74.42 9264.42 994.51 1964.31 10 Yr 3.46% 46.48 4.84 8.39 0.5% 0.49% 0.43% Data delayed 20 min More From TheStreet Latest Headlines Top-rated Mutual Funds from TheStreet Ratings Top-rated ETFs from TheStreet Ratings Find returns with the Dividend Calendar Top Rated Stocks from TheStreet Ratings Free Newsletter Signup adsonar_placementId=1341369;adsonar_pid=879768;adsonar_ps=-1;adsonar_zw=320;adsonar_zh=280;adsonar_jv='ads.adsonar.com'; .ie6_brokerage {height: 227px !important; overflow: hidden;} div.brokerage {font-family: arial, sans-serif; text-align: center;} div.brokerage h3 { color: #000; font-size: 16px; text-transform: uppercase; font-weight: bold; margin: 0px; } div.brokerage .openx {margin: 6px 0 04px; float: left;} #iframeWrapper { width: 320px; margin: 0 auto 0 auto; } /*ie6 fixes*/ *#iframeWrapper .openx { _width: 130px !important; _display: inline !important; } *#iframeWrapper { _position: relative !important; _top: 24px !important; } Brokerage Partners YAHOO.util.Event.on(window,"load",function(){ setTimeout(function(){ TSCM.util.attachScript('scr_intellitxt','http://thestreet.us.intellitxt.com/intellitxt/front.asp?ipid=10685'); },1200); }); #premServicesiframe {height:345px !important;} .whiteBorderBox .premiumServices > div { position: relative; } .premiumServices .blueHdrTitle { margin-bottom: -10px !important; } *div[id="quote"] #rightCol .lastBox { float: left !important; } *#quote #rightCol .lastBox {overflow: visible !important;}Action Alerts PLUS | Top Gun Trader | RealMoney Options Alerts | Stocks Under $10 | RealMoney Silver VIEW ALL
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var _isIE = false; /** * absolutley positions an ad using an existing container as an 'anchor' * can optionally update the height of the placeholder (cfg.flexibleHeight) */ TSCM.ads.positionToPlaceholder = function(cfg) { var Yud = YAHOO.util.Dom; var ad = Yud.get(cfg.ad); var placeholder = Yud.get(cfg.placeholder); if(!ad || !placeholder) {return}; if(cfg.flexibleHeight === true) { //option to update height of placeholder based on ad //thanks to IE, we can't do this the simple way with getStyle var height; if (_isIE) { //IE6, IE7 var adRegion = Yud.getRegion(ad); height = adRegion.bottom - adRegion.top; } else { height = Yud.getStyle(ad, 'height'); } //set default height for caus if height detect fails if (height === '0px' || height == '0' || height < '220' ||height === 'undefined' && placeholder.id === 'cauContainer') { height = '220px'; } Yud.setStyle(placeholder, 'height', height); } Yud.setXY(ad, Yud.getXY(placeholder)); //position the ad over the placeholder }; TSCM.ads.placeLazyLoadingAds = function() { // DART 1 TSCM.ads.positionToPlaceholder({ ad: 'ad728x90', placeholder: 'bannerContainer', flexibleHeight: false }); //DART 2 TSCM.ads.positionToPlaceholder({ ad: 'customUnit', placeholder: 'cauContainer', flexibleHeight: true }); //DART 3 TSCM.ads.positionToPlaceholder({ ad: 'boxAd', placeholder: 'boxAdContainer', flexibleHeight: true }); //DART 4 TSCM.ads.positionToPlaceholder({ ad: 'secondBoxAd', placeholder: 'secondBoxAdContainer', flexibleHeight: true }); //OPENX search sponsor TSCM.ads.positionToPlaceholder({ ad: 'searchsponsor', placeholder: 'searchSponsorContainer', flexibleHeight: false }); //OPENX market data sponsor TSCM.ads.positionToPlaceholder({ ad: 'marketSponsorTile', placeholder: 'datasponsor', flexibleHeight: false }); // DART textLink ads (from tile: righthandtextlinks) window.setTimeout(function(){ //setTimeout ensures it gives the big flash ads time to load first TSCM.ads.positionToPlaceholder({ ad: 'textLinks', placeholder: 'textLinksContainer', flexibleHeight: false }); }, 1000) }; TSCM.ads.placeLazyLoadingAds(); //define a local function to fix cialis function fixCialis() { TSCM.ads.positionToPlaceholder({ ad: 'ew_BannerDiv1057564', placeholder: 'bannerContainer', flexibleHeight: false }); } //fixes all placements (and cialis if present) function fixResizePlacement() { TSCM.ads.placeLazyLoadingAds(); if(YAHOO.util.Dom.get('ew_BannerDiv1057564')) { fixCialis(); } }; window.onresize = function() { setTimeout("fixResizePlacement()",2000); }; Read Full Article »