Tuesday, Aug 17, 2010
Close them down I say
Fortune: The Fannie-Freddie turkey shoot
So what to do?
Fannie (FNMA) and Freddie (FMCC) "are quite profoundly broken," says Raj Date of the Cambridge Winter Center. "But no one wants to disrupt the only thing that's working right now in the mortgage market."
Posted by mark @ 09:31 AM (569 views) Add Comment
2 Comments
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1. alan said...
"Foreigners held $1.28 trillion of agency debt at the end of the first quarter", Ooops...that's a lot of cash.
Wasn't the last bailout $400bn? I've now read a few articles on the subject...they don't want to bail it out (too costly) they don't want it falling over (ruin the market) so they have another meeting.... Prognosis....more hanging around and waiting for house prices to improve (very unlikely).
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