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post #1 of 10 (permalink) Old 07-07-2008, 07:51 PM Thread Starter
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Mortgage problems continue

Quote:
Freddie Mac fell 18 percent and Fannie Mae dropped 16 percent after Lehman Brothers Holdings Inc. analysts said in a report today that an accounting change may force them to raise a combined $75 billion.
http://www.bloomberg.com/apps/news?p...r_4&refer=home
Quote:
Fannie Mae would need to add $46 billion of capital
Kind of sucks for a company that has a market cap of $15 billion.
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post #2 of 10 (permalink) Old 07-08-2008, 08:06 AM
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Quote:
Originally Posted by TexasDevilDog
http://www.bloomberg.com/apps/news?p...r_4&refer=home
Kind of sucks for a company that has a market cap of $15 billion.
It's not common knowledge, but fannie mae has been laying off people right and left.
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post #3 of 10 (permalink) Old 07-10-2008, 09:31 AM Thread Starter
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Quote:
Originally Posted by Last weekend
"We need to create a resolution process that ensures the financial system can withstand the failure of a large, complex financial firm," Mr Paulson said.
Quote:
Originally Posted by Today
-- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer?
http://money.cnn.com/2008/07/09/news...ion=2008071007

Just so far today.
Freddie down 28%
Fannie down 18%

This would put a big drag on the economy if one or both fail.
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post #4 of 10 (permalink) Old 07-11-2008, 09:35 AM Thread Starter
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Freddie and Fannie are down almost 50% this morning. I believe they will be like Bearsterns.

Should only cost us, the tax payers, a couple $Trillion.
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post #5 of 10 (permalink) Old 07-11-2008, 10:23 AM
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all they really need is a $100 billion investment from the government, not a governmnet take over. then with any luck maybe negociate a bail out by Saudi Arabia, where the government would get its money back
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post #6 of 10 (permalink) Old 07-11-2008, 11:51 AM Thread Starter
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Quote:
BOSTON (MarketWatch) -- Market analyst Jon Najarian at options research firm OptionMonster Inc. in a research note Friday morning said that, although he believes government-sponsored mortgage giants Fannie Mae will continue doing business, "their shares in my opinion are likely worthless." ... "There is no reading between the lines necessary here," Najarian wrote. "I think Freddie and Fannie equity may be toast, which means the government will simply take over both, as [it] can't let $5 trillion in mortgages vaporize."
http://www.marketwatch.com/news/stor...7D&dist=msr_10

The US government won't let Fannie and Freddie to file bankruptcy but will be another take over sort of like Bear Stearn.
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post #7 of 10 (permalink) Old 07-11-2008, 12:02 PM Thread Starter
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I saw some mention on a finance forum, What happens to the US government debt rating when they have to take over FNM/FRE, and have to assume another $Trillion of debt instantly on top of their $8Trillion.

USD dollar is down big today.
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post #8 of 10 (permalink) Old 07-11-2008, 12:05 PM
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I bought shares of Freddie last November at $26.50 per, sold it last february at $32.12 per

I see right now it's about $6.00 per
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post #9 of 10 (permalink) Old 07-11-2008, 12:07 PM
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DOW just hit 10,997

71 Camaro 355sbc 6.472 @ 104mph/10.311 @ 128
Powered by: Tripp Motorsports E85 carburetor

NHRA Super Street-4040
IHRA Hot Rod-404
NHRA ET-404M
IHRA SSS-4X4M

How am I supposed to get my own T-Shirt with all those different numbers?
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post #10 of 10 (permalink) Old 07-11-2008, 12:23 PM
Lifer
 
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I dont think it will cost a trillion for the fed to do a take over, but still I would rather see an investment rather then a takeover from the government.

I dont think this single action will effect the dollar as much as the other factors that have got us into this mess. the dollar is already bad
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