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• 07.14.08
  Bailout! Feds step in to help Fannie and Freddie Current Events, Industry | (0)

  Last night, U.S. Treasury secretary unveiled a plan to aid struggling mortgage financiers Fannie Mae and Freddie Mac, both of which have taken a recent pummeling on Wall Street amid rising capitalization concerns. The government-sponsored enterprises, deemed too important to fail, are the focus of a three-pronged strategy aimed at addressing the immediate liquidity and capital needs, as well as ensuring the firm’s solvency going forward. First: Fannie and Freddie will be granted a temporary increase in the lines of credit they hold with the Treasury department. Currently each is able to borrow $2.25 billion directly from the Fed. Second, the Treasury will ...

  Tagged: Bailout, Crash, Fannie, Fed, Freddie, Treasury
  
• 07.11.08
  The doomsday device Current Events, Industry, Investors, Market | (0)

  Or: how I learned to stop worrying and the love the GSEs. Fortune: The $5 trillion mess. Fortune: The Fannie and Freddie doomsday scenario. New York Times: U.S. weighs takeover plan of two mortgage giants. Wall Street Journal: The price of Fannie Mae. Bloomberg: Fannie, Freddie ‘insolvent’ after losses, Poole says. If real estate investors thought times were tough, imagine how much worse it could be if either Fannie or Freddie went under. Fannie and Freddie, in purchasing mortgages on the secondary market, are responsible for half of all mortgage loans in the country. While a government bailout is much more likely than either company imploding, the ...

  Tagged: Fannie, Freddie, GSE, Meltdown
  

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