stonethecrows Posted July 26, 2008 Share Posted July 26, 2008 (edited) I haven't seen this already posted so here we are: Another 2 down-were these on the list of 90? http://online.wsj.com/article/SB121703904765687047.html And oh deary me-the Fannie/Freddie bailout doesn't appear to be going quite according to plan either...http://www.bloomberg.com/apps/news?pid=20601087&sid=aDesHvSN6kek&refer=home Standard & Poor's may downgrade the subordinated bonds of Fannie Mae and Freddie Mac, surprising investors who had anticipated the securities would be supported by any Treasury rescue plan. ~snip~Credit-default swaps on Freddie Mac's subordinated debt, which is repaid after senior bonds, climbed 42 basis points to 182 basis points, while contracts on Fannie Mae's subordinated debt rose 40 basis points to 180 basis points, according to CMA Datavision. Edited July 26, 2008 by stonethecrows Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 26, 2008 Share Posted July 26, 2008 Well, the Fannie situation is surely obvious. Even stock brokers can understand that throwing money onto a fire doesnt put the fire out and the money will be reduced to its constituent parts for them to sweep up later. Or maybe they dont? Quote Link to comment Share on other sites More sharing options...
kilroy Posted July 26, 2008 Share Posted July 26, 2008 (edited) I haven't seen this already posted so here we are: Another 2 down-were these on the list of 90? http://online.wsj.com/article/SB121703904765687047.htmlAnd oh deary me-the Fannie/Freddie bailout doesn't appear to be going quite according to plan either...http://www.bloomberg.com/apps/news?pid=20601087&sid=aDesHvSN6kek&refer=home It's kind of good news; at least the FDIC didn't seize the hundreds of insolvent banks all in one weekend. Very inflationary. Also, the Fannie plan is going exactly according to plan as the US gov is putting itself in first lien position on fannie's/freddie's assets; this was always going to kill everybody below them. Edited July 26, 2008 by kilroy Quote Link to comment Share on other sites More sharing options...
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