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post #1 of 8 (permalink) Old 07-13-2008, 03:12 PM Thread Starter
Married Man on 14Feb2010
 
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Stick a fork in them

Quote:
July 13 (Bloomberg) -- Fannie Mae and Freddie Mac are in talks with Treasury, Federal Reserve and White House officials to come up with funding plans should the beleaguered mortgage companies require financing, according to people with knowledge of the discussions.
http://www.bloomberg.com/apps/news?p...efer=worldwide

Talking up the market didn't help much last week.
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post #2 of 8 (permalink) Old 07-13-2008, 07:31 PM
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Bloomberg terminal was reporting a possible 15B injection for the Fannie and Freddie.
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post #3 of 8 (permalink) Old 07-13-2008, 08:01 PM Thread Starter
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Quote:
Originally Posted by 01WhiteCobra
Bloomberg terminal was reporting a possible 15B injection for the Fannie and Freddie.
I heard that the government will be buying some "super perferred stock". I have not checked their burn rate, but I wonder how long that will tide them over? They have gone to the "injection" well before.
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post #4 of 8 (permalink) Old 07-13-2008, 11:01 PM
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Boom, boom, boom, another lender get's bailed out... boom, boom, boom, another lender gets bailed out... and another one bailed, and another one bailed...

Quote:
Release Date: July 13, 2008

For immediate release

The Board of Governors of the Federal Reserve System announced Sunday that it has granted the Federal Reserve Bank of New York the authority to lend to Fannie Mae and Freddie Mac should such lending prove necessary. Any lending would be at the primary credit rate and collateralized by U.S. government and federal agency securities. This authorization is intended to supplement the Treasury's existing lending authority and to help ensure the ability of Fannie Mae and Freddie Mac to promote the availability of home mortgage credit during a period of stress in financial markets.
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post #5 of 8 (permalink) Old 07-14-2008, 03:00 AM
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The days of holding people accountable are over, guys.
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post #6 of 8 (permalink) Old 07-14-2008, 09:54 AM
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Quote:
Originally Posted by Denny
The days of holding people accountable are over, guys.
Cool. Now I can quit paying taxes and bills. Just kiddin; I think you mean the days of holding *some* people accountable are over.

Those days have been over for years now. Like Rove telling Congress to go fuck themselves.

Talk is cheap because supply exceeds demand!
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post #7 of 8 (permalink) Old 07-14-2008, 11:31 AM
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Quote:
Originally Posted by Denny
The days of holding people accountable are over, guys.
I bet the guys from Enron wish they'd have held off for a few years

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #8 of 8 (permalink) Old 07-14-2008, 12:26 PM Thread Starter
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Quote:
The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an ``unmitigated disaster'' and the largest U.S. mortgage lenders are ``basically insolvent,'' according to investor Jim Rogers.
http://www.bloomberg.com/apps/news?p...O4A&refer=home

I hope Jim Rogers is wrong.
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