All Posts Tagged With: "Fannie Mae"

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Fannie and Freddie to be Taken Over by Feds: Reports

After the usual BS assurances by federal officials and top management at the twins of doom that Freddie Mac and Fannie Mae had sufficient operating capital reports surfaced late Friday that the day of reckoning was near. Freddie and Fannie may be taken over by the Federal Government as soon as this weekend.

The take over would be the largest financial bailout in America’s history and probably pretty much wipe out the common stock shareholders. The take over would add about six trillion dollars to the federal debt, not a very reassuring figure. In fact it may well bring into question the very credit worthiness of the United States government and add to the cost of all government attempts to raise money in the future.

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6Sep2008 | taipan | 0 comments | Continued
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Fannie Mae and Freddie Mac Shares on Their Way to Zero

Fannie Mae and Freddie Mac made the giant crazy sized long running American real estate bubble all possible. Released by congress from capital-ratio requirements and backed with a line of credit at the Treasury, they were able to buy a nearly unlimited amount of mortgages, which kept home mortgage financing flowing to a lot of people who had no ability to repay the mortgages. Today, Freddie or Fannie finance more than 80% of all new mortgages in the United States.

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22Jul2008 | taipan | 0 comments | Continued
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Jim Rogers on Fannie Mae Freddie Mac Bailout

The legendary investor, Jim Rogers, had a few hot words to say about the Fannie Mae - Freddie Mac rescue plan announced by Ben Bernanke and Hank Paulson over the weekend.

“I don’t know where these guys get the audacity to take our money, taxpayer money, and buy stock in Fannie Mae,” said Jim Rogers from his new home in Singapore in a Bloomberg interview . “So we’re going to bail out everybody else in the world. And it ruins the Federal Reserve’s balance sheet and it makes the dollar more vulnerable and it increases inflation.

This is a preview of Jim Rogers on Fannie Mae Freddie Mac Bailout. Read the full post (365 words, 0 images, estimated 1:28 mins reading time)
14Jul2008 | taipan | 0 comments | Continued
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Forex Market Implications of Fannie Mae and Freddie Mac

Growing fears on the part of stock investors and forex traders that mortgage backers Fannie Mae and Freddie Mac may collapse and have to be taken over by the US government contributed to a wild trading day in the US stock market and the forex market on Friday.

Fannie Mae and Freddie Mac shares have been hammered this year as the mortgage and US housing market crisis have become worse and worst witrh no end in sight. Together Fannie Mae and Freddie Mac insure almost fully 50% of the mortgages on American homes which runs into the many trillions of dollars. The two implicitly US government backed companies have had their shares prices hammered over the past year as losses on their loan portfolios mount. Their shares have now lost over 75% of their value and may not have bottomed out even at truly distressed prices.

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12Jul2008 | taipan | 0 comments | Continued

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