Gov. Gavin Newsom has signed a bill to prevent the state's plan that provides insurance to homeowners who can't get private coverage from running out of money. The FAIR Plan is designed as a temporary option until homeowners can find permanent coverage, but more Californians are relying on it than ever. It needed a $1 billion bailout earlier this year after the Los Angeles fires destroyed more than 17,000 structures. The new law allows the FAIR Plan to request loans and bonds to spread out its financing claims payments. Supporters said the new financial tools will prevent future bailouts after a major disaster.
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If Donald Trump wins the presidential election, Republicans hope he will fulfill a longstanding GOP goal of privatizing the mortgage giants Fannie Mae and Freddie Mac. The two companies have been under government control since the Great Recession in 2008. Republicans believe the conservatorship has stymied competition in the housing finance market while putting taxpayers at risk should another bailout be necessary. But Democrats and some economists warn that ending the conservatorship would cause mortgage prices to jump since Fannie Mae and Freddie Mac would need to raise fees to make up for the increased risks they'd face without government support.
The utility that serves more than 5 million electrical customers in one of the world’s most technologically advanced areas is now faced again …
“Hope is without question the single greatest illusion in American politics.” That is what my undergraduate history professor said in class my…
There is strong indication Pacific Gas and Electric is responsible for the Camp Fire, the largest and most deadly wildfire in California histo…
“Hope is without question the single greatest illusion in American politics.” That is what my undergraduate history professor said in class my…
OSLO, Norway — Germany’s Lena Meyer-Landrut won the 2010 Eurovision Song Contest with "Satellite,” an upbeat, catchy pop song, edging out Tur…
BRUSSELS — The German government backed a $1 trillion rescue package for Europe’s troubled currency union as European Union officials readied …