The U.S. government has just seized the mortgage lenders - Fannie and Freddie. How much that will add to the nation’s debts, we don’t know. No one knows…
September 11th, 2008 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "Fannie Mae and Freddie Mac"
Fannie Mae and Freddie Mac Seized By U.S. Government
This weekend’s big deal was the U.S. government taking over the “government sponsored enterprises” (GSEs) Fannie Mae and Freddie Mac that guarantee trillions of dollars in mortgages. The “guarantee” is supposedly accomplished by converting bundles of mortgages from the banks and loan companies that originate them (that make the contracts with the buyers of houses) into bonds that can be sold downstream.
September 11th, 2008 | James Howard Kunstler | 3 comments | Continued
Fannie Mae and Freddie Mac Investors Have Already Lost 80% of Their Money
Fannie and Freddie did not go gently into conservatorship. Although their access to badly needed equity capital had dried up and their borrowing costs had increased…
September 9th, 2008 | Bill Bonner | 0 comments | Continued
How Much it Really Cost to Bailout Fannie Mae and Freddie Mac
A recent study from the Congressional Budget Office (CBO) has zero credibility. It pegged likely taxpayer losses in the Fannie Mae and Freddie Mac bailouts at $25 billion. For those with a sense of history, it is worth remembering that the S&L bailout had a $160 billion price tag. The numbers diverge so far from reality as to be laugh-out-loud funny…
September 5th, 2008 | Don Rich | 3 comments | Continued
The Two Pillars of the U.S. Mortgage Market, Fannie Mae and Freddie Mac, Wobbled Again Yesterday
“Thousands give up on home ownership dream,” reports Eli Greenblat in today’s Age. The Australian Bureau of Statistics reported yesterday that the number of new home loans for owner occupied housing fell by nearly 8% in May, and by 25% in the last four months. Builders aren’t building, even though immigrants are still coming to Australia in droves.
July 10th, 2008 | Dan Denning | 1 comment | Continued