Cities consider running treatment plant Sep 10, 2008
That evaluation concluded that it is feasible to sell bonds, provided that all member communities pledge their full faith and credit for their shares of the debt, and also agree to a "make whole" provision, whereby member communities would cover unpaid debts from another member community, if necessary. "What we got was a qualified 'yes,'" Hinshon said. (The News-Herald)
See no room for Freddie, Fannie-like cos: Greenspan Sep 10, 2008
Commenting on the bailout , Former Federal Reserve Chairman said, It is essential to remove the ambiguity with respect to the potential full faith and credit of the US government being behind Fannie and Freddie debentures. That ambiguity has created major problems within the two institutions and the only thing that I could see which would clarify it, is something quite similar to what Secretary Paulson did over the weekend - he essentially removed the ambiguity. (Moneycontrol.com)
The bailout's big lessons Sep 9, 2008
A pledge of the full faith and credit of the United States still means something. That's why the markets responded favorably to the takeover. (International Herald Tribune -- Ed/Op)
Portland announces bid for Major League Soccer team Sep 5, 2008
It does require the full faith and credit of the city to back those bonds, said Leonard. He said the economic benefit to the city would outweigh the risks. (Coos Bay-North Bend The World, OR)
MICHAEL DER MANOUEL JR.: Seven reasons local GOP is losing voters Aug 28, 2008
Medicare and Social Security are on the way to bankrupting the nation, as Congress steals the cash out of the "trust funds" every year and replaces the cash with IOUs backed by the "full faith and credit" of the U.S. government, which is currently $9 trillion in debt. The unfunded liability in these programs is estimated at $53 trillion, and yet, the Republicans again refused to risk political capital to fix these programs. (Fresno Bee -- Opinion)
In the Arena: Capital spending at the Capitol Aug 21, 2008
In addition, we bailed out the Mass Turnpike last week to the tune of $800 million, putting up the full faith and credit of the Commonwealth while refinancing its debt, despite the fact that the Turnpike is a quasi-public entity. I m concerned that too few of us factor in these unmet and legitimate financial needs when we consider the total picture of the state s finances. (Lincoln Journal, MA)
Greenspan Sees House Price Bottom in 2009 Aug 15, 2008
"The law that stipulates that GSEs are not backed by the full faith and credit of the U.S. government is disbelieved. The market believes the government guarantee is there. Foreigners believe the guarantee is there. The only fiscal change is for someone to change the bookkeeping," he told the Journal. 1. (ABC News -- Business)
FDIC Fund Strained by Bank Failures May Have to Raise Premiums Aug 11, 2008
So if Armageddon scenarios did play out, the people's deposits would be backed by the full faith and credit of the United States government,'' Bair, 54, said on July 30. The banking industry would ultimately be responsible for any government spending, Bair added. (Bloomberg)
Is It Time for Federal Reciprocity of Concealed Carry Permits? Aug 8, 2008
The Constitution s full faith and credit clause mandates that. So why should Massachusetts invite gay couples to go there to marry, confident that other states will have to honor those marriages, when I can t take my handgun into Massachusetts with my Texas license. (Human Events Online)
How Ginnie Mae differs from Fannie, Freddie Aug 5, 2008
"They are backed by the full faith and credit of the U.S. government, just like a Treasury bond. That's not the case with Fannie and Freddie, although recent steps suggest that if they don't have the full faith and credit, they're pretty close.". You can still lose money in a Ginnie Mae fund, Herbert adds. (San Francisco Chronicle -- Business)
Senators prod Patrick on student loans Aug 2, 2008
Joyce said the Senate is not suggesting that the state put its full faith and credit behind the student loan authority - even though it's in far better financial shape with few defaults. "We cannot afford that right now, and fiscally it would be an imprudent thing to do," he said. (Boston Globe)
Prop 8 needs a closer look Aug 1, 2008
Leo Brown wrote on Jul 31, 2008 9:45 AM:" Ill fight you in the courts is the key phrase. Gay marriage will ultimately unleash a torrent of litigation and anyone, including schools, individuals, and religious institutions, opposing gay marriage will be the target. And this will be nationwide, since the next argument will be the full faith and credit clause of the Constitution.Homosexual households already are prospering economically more than straight couples. The California... (Hanford Sentinal, CA)
Fannie Mae, Freddie Mac Live to Die Another Day Jul 31, 2008
To the extent that the immediate crisis abates -- borrowing isn't a problem now that Fannie's and Freddie's debt carries the full faith and credit of the U.S. government -- it will reduce the impetus to seek a long-term solution, which is exactly what's needed. A ``world class'' regulator isn't the solution. (Bloomberg -- Columnists)
National bank closings not reflection of county, state Jul 30, 2008
The FDIC has full faith and credit behind it. FDIC celebrates its 75th anniversary this year, after Congress created it in 1933 to restore public confidence in a banking system badly marred after the Great Depression. (Fulton Sun, MO)
The billion-dollar bailout Mass. can't afford Jul 27, 2008
It is the height of irresponsibility to pledge the full faith and credit of the Commonwealth - its most precious asset - to an agency with a $100 million deficit in these treacherous economic times. This is not a lifeline; it's a credit card with no limit. (Boston Globe)
TREASURY'S THIEVES Jul 23, 2008
The Treasury's provision of the government's full faith and credit guarantee to Fannie and Freddie has stabilized the situation. Rather than rush through a bad reform, Congress should get it right. (New York Post -- Opinions)
Debt capitalismself-destructs Jul 22, 2008
The Ginnie Mae guaranty is backed by the full faith and credit of the United States. Today, Ginnie Mae guaranteed securities are one of the most widely held and traded MBSs in the world. (Asia Times Online)
Overseas investors take hard look at U.S. mortgage giants Jul 21, 2008
That helps explain why Treasury Secretary Henry Paulson Jr., who is responsible for preserving the full faith and credit of the U.S. government, is pressing American lawmakers so hard to provide him with the authority to inject unspecified billions in cash into either company. The "blank check" nature of his request raises hackles among some in Congress, but Paulson is counting on the fear of much worse to come if nothing is done to rescue Fannie and Freddie to win the battle on Capitol Hill. (International Herald Tribune)
Turnpike debt maneuver needs to be quick, administration says Jul 19, 2008
Widmer railed against committing the Commonwealth s full faith and credit, saying it carried extreme risk to the state ... Like the state s own full faith and credit, both those bonds would lower interest costs for the Turnpike. (Belmont Citizen Herald, MA)
Six people reportedly robbed at gunpoint on city's east side Jul 18, 2008
Archie Goodwin wrote on Jul 18, 2008 5:31 AM:" Heard an interesting constitutional suggestion the other day. The "Full Faith and Credit" clause of the constitution guarantees that marriage licenses, drivers licenses, etc. issued in one state are legal in all states. So technically, a concealed carry permit or an open carry permit issued in another state should have to be recognized in Illinois. Would be interesting to see this litigated. ". babyfine wrote on Jul 18, 2008 4:28 AM:" and i am movin... (The Pantagraph newspaper)
Memories May Fade, But Fine Print Doesnt Jul 18, 2008
The promise came in the form of bonds sold by China, backed by gold reserves along with the full faith and credit of China's government. From 1900 to 1938, the Labands and thousand of other Americans eagerly snapped up the bonds as a sound investment and a patriotic way to help China, an ally, build its economy. (CBS News -- US)
The Saga of Fannie and Freddie Jul 15, 2008
For decades, Fannie and Freddie sold pools of mortgage-backed securities in the bond market and raised cash for their own accounts under the previously untested assumption that someday the implicit guarantee of the full faith and credit of the U.S. government would become explicit. That explicit promise has now become the new reality. (Townhall.com)
Run on banks spells big trouble for US Treasury Jul 15, 2008
Nationalising the companies "would put the full faith and credit of the Treasury at risk", said Allen Sinai at Decision Economics in New York. "It would make foreign investors think hard about buying US Treasury debt.". (Sydney Morning Herald -- Business)
A Nation Without Fannie or Freddie? What Would Happen Jul 13, 2008
" While the two companies are publicly traded, theres an implicit guarantee that as government-sponsored enterprises they are backed by the full faith and credit of the U.S. government. That implicit guarantee has always been hypothetical, up until now. If the government took over responsibility for all the loans guaranteed by Fannie and Freddie, it would effectively double the size of the national debt, economists said, and severely impair the ability of the government to do business.... (Fox News)
Financial fires sear public's confidence Jul 13, 2008
Nationalizing the companies "would put the full faith and credit of the Treasury at risk," says Allen Sinai at Decision Economics in New York. "It would make foreign investors think hard about buying U.S. Treasury debt."The way you stop a bank run is to restore confidence. (Fresno Bee -- Business)
U.S. Adopts Capitalism Lite for Housing Bailout Jul 13, 2008
Ginnie Mae mortgages, unlike those securitized by Fannie Mae and Freddie Mac, carry the full faith and credit of the U.S. government. So, while fears about the capital adequacy of and are dominating the marketplace, the expansion of FHA, either through administration diktat (FHASecure) or congressional legislation, poses a direct risk to us, the taxpayers. (Bloomberg -- Columnists)
Politics: Obama's Problem With Proposition 8 Jul 8, 2008
DOMA protects states from being forced to recognize same-sex marriages performed in other states under the "Full Faith and Credit" clause. Obama likely would have preferred not to catch the bouquet on this one, but California is the biggest electoral prize this November and Prop 8 may be the biggest issue on its ballot. (Investors Business Daily)
Green jobs in DiMasi's sights as social activists push for training Jul 8, 2008
In addition, the center may issue $50 million of bonds, although not backed by the full faith and credit of the state, and make loans to support its goals. Of the fund s annual allocations, $5 million must go to a clean energy seed program to support public-private partnerships to advance clean energy, which in turn must be matched by venture capital. (Belmont Citizen Herald, MA)
Theater concept widens its stage Jul 4, 2008
"3CDC has the full faith and credit of the business community. They have considerable expertise.". Bortz agreed that 3CDC is "perfectly positioned and highly qualified" to assemble the best development plan and a team to build it. (Cincinnati Business Courier, OH)
Gay Marriage Decision Ignores Traditional Values, Lacks Leadership Jun 23, 2008
Also, Congress could update the Defense of Marriage Act: It forbids the use of the Constitution s full faith and credit clause to force states to recognize these California marriages, but it doesn t protect states from the decisions of family courts in states that recognize same-sex unions. Finally, lawmakers could consider a resolution encouraging the people of California as they amend their state constitution to restore the traditional definition of marriage. (Human Events Online)
A Supreme Constitutional Showdown Jun 13, 2008
The Full Faith and Credit Clause of the U.S. Constitution requires every state accept the legal enactments of other states ... The Full Faith and Credit Clause requires marriage be respected even if the parties could not be legally married in their home state. (Townhall.com)
TIFA sells bonds for $2.3 million streetscape project Jun 12, 2008
The East Tawas City Council at a special meeting on May 21 approved a resolution pledging the city s full faith and credit toward the bond issues. The city last month received an A+ credit rating by Standard and Poor s Corporation. (Iosco County News Herald, MI)
Nolte: College has major space issues Jun 12, 2008
A general obligation bond is a debt secured by the "full faith and credit" of the issuing government and backed by revenues from its taxing power. "This is the time to invest in our future," she said. (Casper Star-Tribune, WY)
Jim Johnson Leaves Obama Veep Search Team Jun 12, 2008
Its securities are required to say in so many words that they are not backed by the full faith and credit of the United States government. But nobody believes it. (Slate)
Let the bells ring Jun 11, 2008
For starters, the ruling is likely to lead to a challenge of the Defense of Marriage Act, passed in 1996, which defines marriage for federal purposes as occurring only between men and women and empowers states not to accept same-sex marriages performed elsewhere, even though the full faith and credit clause of the U.S. Constitution requires states to legally recognize one another s actions and records. No matter what happens in November, gays and lesbians have the right to receive marriage... (Montana Standard, MT)
Post-Christian America Jun 2, 2008
Marriage is nothing but a CONTRACT. As such, it is protected by the Full Faith and Credit Clause of the US Constitution, which says that a contract that is valid in one state is valid in all. So how can it be then that a state like Utah can refuse to recognize a same-sex marriage from Massachusetts. (Human Events Online)
N.Y. Governor Defends Recognition of Other Jurisdictions' Gay Marriages May 30, 2008
Lee Rosenberg said Paterson was right to cite, as the governor did Thursday, the full faith and credit clause of the U.S. Constitution as also obligating the state to recognize legal same-sex marriages in other jurisdictions. "You must recognize valid laws and determinations made by other states," said Rosenberg of Saltzman, Chetkof & Rosenberg in Garden City, N.Y. "It is a basic principle of how our judicial system and our legal system operate.". (Law.com)
New York to back same-sex unions from elsewhere May 29, 2008
Nocenti said that state agencies that did not provide "full faith and credit to same-sex marriages" could be subject to liability. 1. (International Herald Tribune)
McCain Disagrees With Obama and Clinton on Defense of Marriage May 28, 2008
Ordinarily, under the "Full Faith and Credit Clause" of the Constitution, states are required to recognize "the public Acts, Records and judicial Proceedings of every other State.". If DOMA were repealed, every state in the nation would be required to recognize the same-sex marriages contracted in Massachusetts and California. (CNSnews.com)
No comments posted. May 27, 2008
But, under the new law, Missouri will not extend what's called full faith and credit where, under terms of the U.S. Constitution, states recognize each others' legal documents and court decisions to out-of-state driver's licenses issued to illegal aliens. Lawmakers added a provision prohibiting employers from knowingly and willfully misclassifying a worker as an independent contractor and failing to claim that worker as an employee, when the employer knows that the worker is an employee. (Jefferson City News Tribune, MO)
Road Blocks Ahead for Gay Marriage May 25, 2008
When they begin to sue in federal court, they'll likely claim the denials violate the privileges and immunities clause of the U.S. Constitution and its promise of full faith and credit ... "The court would have to recognize the original marriage as valid to enforce the divorce and child support decree and thus give it full faith and credit," he says. (Time.com)
Democrats Divided on Obama's Call to Repeal DOMA May 23, 2008
Ordinarily, under the "Full Faith and Credit Clause" of the Constitution, states are required to recognize "the public Acts, Records and judicial Proceedings of every other State.". "Obama also believes we need to fully repeal the Defense of Marriage Act and enact legislation that would ensure that the 1,100+ federal legal rights and benefits currently provided on the basis of marital status are extended to same-sex couples in civil unions and other legally recognized unions," his campaign. (CNSnews.com)
LETTERS: NCT, May 20, 2008 May 21, 2008
The problem will be resolved by strengthening and legitimaizing the civil union and applying full faith and credit so it is recognized by all states. That way, the church can maintain the sanctity of the religious ceremony and gay couples civil unions will not be more legitimate in some states than it is in others. (North County Times)
East End Supers Criticize Proposed Changes To CPF May 21, 2008
"All the bill requires is that the chief fiscal officer of the town certify that he has the money to pay back what he has borrowed, because the bonds are already backed by the full faith and credit of the town and they must be paid back. Certifying that you actually have the money to meet that legal requirement is hardly burdensome. However, it does require the towns to demonstrate publicly that they have a sound borrowing plan." All of the supervisors said they are eager to sit down with state... (Suffolk Life Newspapers, NY)
COURT OPINION: Read the rulingss May 20, 2008
In Bonaparte v. Tax Court, (1882), a case involving the Full Faith and Credit Clause, we held that a foreign State is properly treated as a private entity with respect to state-issued bonds that have traveled outside its borders. See id. (USA Today -- Money)
Jury of Judges Still Out On Gay Marriage May 17, 2008
On the flip side, its only a matter of time before a married same-sex couple sues in federal court to enforce the federal Constitutions full faith and credit clause that is designed to ensure some modicum of uniformity between the states. The language of the clause reads as follows: Full faith and credit shall be given in each state to the public acts, records, and judicial proceedings of every other state. (CBS News)
Barr backs gay marriage ruling May 17, 2008
Full Faith and Credit Clause of the Constitution ... It is contrary to the full faith and credit clause of the US constitution. (Atlanta Journal-Constitution)
7 Things to Consider When Choosing an Online Bank May 2, 2008
FDIC insurance is backed by the full faith and credit of the United States government. 3. (Pekin Times, IL)
Kathleen Pender: Bank deposit insurance FAQs Apr 22, 2008
Both the FDIC and the NCUA are backed by the full faith and credit of the U.S. government. Q: What are the insurance limits. (San Francisco Chronicle -- Business)
Boost your savings Apr 1, 2008
Like federally insured bank deposits, these accounts are backed by the full faith and credit of the U.S. government, says Fred Becker, president of the National Association of Federal Credit Unions ... The downside: Your deposits won't be protected by the full faith and credit of the federal government. (USA Today -- Money)
Mismanaging the Mortgage Mess Mar 27, 2008
The Federal Housing Administration (FHA) would get $20 billion from Congress, using it to capitalize $300 billion in bonds -- secured by the full faith and credit of the United States (i. e., with taxpayers money). (Human Events Online)
JPMorgan to Buy Bear Stearns for $2 a Share Mar 17, 2008
State " Zip: Email: 12 ISSUES FOR $12.00 71% OFF! 24 ISSUES FOR $18.00 79% OFF! 36 ISSUES FOR $24.00 Best Deal! Print Send (Adds additional details after fourth paragraph) NEW YORK -(Dow Jones)- Executives of J.P. Morgan Chase & Co. (BSC) Sunday night said that despite only a day-and-a-half of scrutinizing the books of Bear Stearns Cos. (BSC), its deal to buy the investment bank at a bargain-basement price is compelling strategically and financially. Capping a frenzied weekend of negotiations... (SmartMoney)
Braves stadium gets AAA bond rate Mar 9, 2008
"The ... AAA rating reflects the security provided by a pledge of Gwinnett County's full faith and credit and taxing power," Fitch said in a report on the bonds. In an interview, Moody's public finance analyst Baye Larsen said: "The bottom line is they are pledging their full taxing authority, not just one revenue stream.". (Atlanta Journal-Constitution)
More of this story» Mar 8, 2008
The full faith and credit of the county may be pledged by subsequent resolution of the Board of Commissioners adopted by a three-fifths majority of its members as additional secondary security for the bonds, but that has not happened at this point, County Administrator Terry Proctor said. "I'm very happy to not see anybody in the audience opposed to this," said Commissioner David Taylor, D-Edwardsburg. (Dowagiac News, MI)
Bernanke to banks: Get real, reduce loan amounts Mar 7, 2008
and while several years' service to the nation gets you very little these days, it does get you a 100% loan backed by the full faith and credit of the US government. "The altruistic defense insults the inteligencia when you really want to maintain and increase your property value and are also supporting the fed/banks principal decline-mitigation plan I mean come on.". (Yahoo News -- U.S. Economy)
Singles could lose eligibility to adopt Mar 4, 2008
Baria said the legislation could have unintended consequences as well, including violating the U.S. Constitution's Full Faith and Credit clause, which requires all states to recognize certain actions of individual states. "I am concerned that we are not thinking through these things before they bring them to the floor of the Senate," Baria, D-Bay St. Louis, said. (The Clarion-Ledger)
MONSTER DEBT COULD SINK OUR SHIP OF STATE Mar 2, 2008
Our "full faith and credit" is on the verge of collapse while we debate whether to paint our ship of state red or blue as we swirl into a financial drain. We must discuss and plan how to get our national debt to manageable size. (San Francisco Chronicle -- Opinion)
Canadian investors present reports to LAA at State Capitol meeting Mar 1, 2008
""The quality of work done so far is without question and to be backed by the full faith and credit of a sovereign nation, I challenge you to find another example in the history of Louisiana. If we are further delayed, it will be for the same reason. (Gonzales Ascension Citizen, LA)
Letters to the Editor - 2/27/2008 Feb 28, 2008
Last modified Tuesday, February 26, 2008 9:38 PM PST. So, and , but who is this Ron Paul guy. (North County Times)
Why city budget's running in the red Feb 13, 2008
On April 1, 2007, the city Brownfield Authority sold an 810,000 bond issue backed by the city's full faith and credit to develop phase one of the former junior high site occupied by the Donald Lyons Health Center. This issue also assisted in funding the demolition of all school infrastructure. (Dowagiac News, MI)
Stark Raving Mad Feb 6, 2008
And inflation could begin in earnest, backed by the full faith and credit of the US government, and its 700+ overseas military bases. For nearly 40 years, this process seemed to work. (Human Events Online)
Tovey takes a lyrical turn to create Pictures Jan 18, 2008
Harold Meltzers Full Faith and Credit is named for a phrase from the constitution of the United Statesalthough so far, Tovey cant find any direct link between this source and the way his New York Citybased colleagues work sounds. Its just wonderful, isnt it, that something as erudite as the U.S. constitutionI choose my words carefullycan inspire a piece for two bassoons, he says. (Georgia Straight)
Chief Justice Wood's False Choice Jan 14, 2008
" From the other side of their mouths they are telling us that they themselves can speculate with respect to the future intent, professional competency, and sense of fairness and purpose of the CHRAJ Commissioner. How come? WHAT CHIEF JUSTICE WOOD IS TELLING THE PEOPLE: We are arguing that the Wood invention goes against the spirit and purpose of the Constitutional provisions. The ruling against CHRAJ is very troubling, to say the least. Whence this interjection of formal by Justice... (Ghana Web, Ghana)
EDITORIAL: The PUL Alliance Dec 31, 2007
PUL is unique in Mississippis official history because it lent the full faith and credit of cooperating governments to expertise and vision coming from the private sector. The members of the three boards of supervisors leapt out of the conventions about county self-interest, and working diligently with good advice and passion, achieved a goal that skeptics and critics thought impossible. (Northeast Mississippi Daily Journal)
Muni Market's Nuttiness Proves Boon to Bond Insurers Dec 29, 2007
The municipal market is comprised of far more than the 50 states, using their general obligation, full faith and credit taxing power when they borrow money. In a Word. (Bloomberg -- Columnists)
