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Two held in connection with cocaine seizure

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first_imgPrint Facebook Linkedin Advertisement Twitter WhatsAppcenter_img TWO people remain in custody after gardai stopped a car with two people on the outskirts of Gort, Co Galway this Tuesday in which half a million euro worth of drugs were seized. The haul is as a result of a joint operation between the Garda National Drugs Unit, Galway Gardai, and Revenue’s Customs Service. It is part of investigations into organised crime gangs in Limerick and Galway.Sign up for the weekly Limerick Post newsletter Sign Up During the course of the search, seven kilos of cocaine (subject to analysis) with an estimated street value of €500,000 were seized. Two people were arrested a male 39yrs and a 24 yr old female. Both are being detained in Galway Garda Station under the provisions of Section 2 of the Criminal Justice (Drug Trafficking) Act 1996 as amended.As part of a follow up operation Gardai searched two houses in Moycullen, Co.Galway.€100,000 in cash was recovered in one of the houses.The two people arrested in relation to the drugs seizure remain in custody and the operation is on going. Email NewsLocal NewsTwo held in connection with cocaine seizureBy admin – November 2, 2010 516 Previous articleStork celebrates 90 Years at the heart of home bakingNext articleChamber back Brosnan report adminlast_img read more

Walking the Tightrope of GSE Reform

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first_img April 8, 2019 2,093 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Recently, President Donald J. Trump signed a memorandum tasking the Treasury Department and Department of Housing and Urban Development (HUD) with preparing a reform plan for Fannie Mae and Freddie Mac. The White House memo directed that this plan be delivered “as soon as possible.” In an opinion piece published by the Wall Street Journal, American Enterprise Institute fellows Peter J. Wallison and Edward J. Pinto discussed the feasibility of the Presidential memo and its proposed reforms.According to Wallison and Pinto, the memo’s direction to the Treasury will lead to government housing-finance system that roughly replicates what existed before 2008, notably “government backing for the obligations of the government-sponsored enterprises Fannie Mae and Freddie Mac , and affordable-housing mandates requiring the GSEs to encourage and engage in risky mortgage lending.”“These elements will be retained, but the problems they caused in 2008 are supposed to be mitigated by better regulation, more capital for the GSEs, and compensation to taxpayers for the risks they’ll assume when the government guarantees the GSEs’ obligations,” Pinto and Wallison’s op-ed states. “The housing lobby misled the public before on the efficacy of these protections.”According to Wallison and Pinto, the FHFA should shrink their footprint as conservator of Fannie and Freddie over a period of five to 10 years. They suggest reducing the size and types of the mortgages that GSEs could buy and opening larger portions of the housing-finance market to the private sector, improving competition.“Most of the U.S. economy is open to the innovation and competition of the private sector,” said Wallison and Pinto. “Yet for no discernible reason, the housing market—one-sixth of the U.S. economy—is and has been controlled by the government to a far greater extent than in any other developed country.”The Presidential memo states that “in the decade since the financial crisis, there has been no comprehensive reform of the housing finance system despite the need for it, leaving taxpayers exposed to future bailouts.” The memo went on to claim that “the Department of Housing and Urban Development’s (HUD) housing programs are exposed to high levels of risk and rely on outdated business processes and systems.”You can read the full memo here. You can also read more about proposed GSE and housing finance reforms in our April DS News cover story, available online. Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Warren Buffett Talks Wells Fargo Next: Understanding Drops in Mortgage Delinquency Demand Propels Home Prices Upward 2 days ago Tagged with: AEI Fannie Mae FHFA Freddie Mac GSE Housing Crisis Share Save Walking the Tightrope of GSE Reform Sign up for DS News Daily Home / Daily Dose / Walking the Tightrope of GSE Reform Servicers Navigate the Post-Pandemic World 2 days ago Related Articles AEI Fannie Mae FHFA Freddie Mac GSE Housing Crisis 2019-04-08 Seth Welborncenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News, Secondary Market  Print This Post Subscribelast_img read more