Free Republic

Thanks to a nuclear-industry practice known as channeling law, General Electric (GE: 19.59, 0.00, 0.00%) doesn’t appear to be on the hook for liabilities related to the nuclear crisis at Japanese reactors designed 40 years ago by the blue-chip conglomerate. Since the magnitude 9.0 earthquake that has paralyzed Japan, GE’s stock has slumped as much as 7.4%, in part due to worries about its legal exposure to the Fukushima Daiichi nuclear facility, which is said to be teetering near a nuclear catastrophe. However, analysts believe GE has little to worry about from a legal perspective and its bottom line may...

It's a tally of Countrywide loans extended on preferential terms to workers at the government-backed mortgage companies. The count was released Tuesday by Rep. Darrell Issa, who sent a letter to Fannie (FNMA) and Freddie's (FMCC) federal regulator requesting that the loans be investigated. This is not Issa's first bite at the rotten Countrywide apple. The California Republican has been investigating the big subprime lender's efforts to cash in on the mortgage boom by pulling strings in Congress. He was behind the release of last year's "Friends of Angelo" report, which rehashed the favorable terms longtime Countrywide chief Angelo Mozilo...

Countrywide probe snares Fannie, Freddie execs By: Jake Sherman July 20, 2010 02:34 PM EDT Employees at Fannie Mae and Freddie Mac — including top executives — received more than 170 cut rate loans from Countrywide Financial, according to a congressional probe, the latest accusation that the lender tried to curry influence with people in power. The investigation revealed that Fannie Mae employees — including an assistant to the CEO, a government relations lobbyist and a vice president for sales — received 153 favorable loans, while 20 VIP loans were issued to employees at Freddie Mac. Countrywide Financial collapsed in...