Tags: Barney Frank + Economy + Fannie Mae + Foreclosures + Freddie Mac + housing
Congress is at the threshold of passing a new bill to bailout Fannie Mae and Freddie Mac—two publicly traded (shareholder owned) mortgage companies that have access to cheap money from Treasury to guarantee pools of mortgage loans so that they can be resold to investors
July 25, 2008 - Economy, Markets, Politics - 0 Comments
Tags: Economy + Fannie Mae + Fed Discount window + financials + FNMA + Freddie Mac + Mortgage-backs + Treasury
The US economic picture by all accounts (except George Bush’s) is deteriorating with forecasts by that as many as 100 US banks may fail and that Stagflation is becoming an ever greater reality (stagnant growth accompanied by rising inflation). US investors concerned that Fannie Mae and Freddie Mac would not be able to manage […]
July 18, 2008 - Economy, Markets, Politics - 0 Comments
Tags: Banks + creditcards + Economy + FDIC + freddiemac + GNMA + mortgage + Risk Regulator
Since the beginning of the sub-prime housing implosion, the Bush Administration has staunchly re-assured us that everything is OK. Indeed, a year ago at the White House President Bush, Treasury Secretary Paulson, Fed Chief Ben Bernanke, and Commerce Secretary Carlos Guitierrez all reassured us that this housing glitch was no problem and in any case only a minuscule part of […]
July 15, 2008 - Politics - 0 Comments
Tags: Bailout + Economy + Fannie Mae + FNMA + Ginnie Mae + Too big to fail + Treasury
Any day now Treasury will bail out Fannie Mae and perhaps Freddie Mac. Together these quasi-government entities guarantee or own an estimated $12 trillion in US mortgages. They are in other words too big to fail.
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