Early Briefing 08.22.07

It's mortgages and the defense industry today.

Carlyle Group of the District agreed to loan as much as $100 million to a credit affiliate, Carlyle Capital, which borrows money to make bets on AAA-rated mortgage securities. See story.

Steven Pearlstein talks about McLean-based Capital One closing its mortgage unit and diving into the banking biz. See column

Marion C. Blakey, the head of the Federal Aviation Administration, will be the chief executive of the Aerospace Industries Association. The chief defense-industry lobbying group's members include local companies, including Lockheed Martin of Bethesda. See story

Bloomberg News reports that General Dynamics of Falls Church is among companies switching from favoring Republicans in campaign contributions to favoring Democrats. Fifty-eight percent of its political action committee donations went to Democrats this year, Bloomberg says, compared with 36 percent in the 2006 elections.
"We provide PAC contributions to those members who have like ideologies, basically strong for national security," company spokesman Kendell Pease said.

By Terri Rupar  |  August 22, 2007; 5:00 AM ET  | Category:  Morning Brief
Previous: Richmond Fed President Offers Outlook on Economy | Next: Michael Rosenwald: Was My Mortgage A Mistake?

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