Fannie&Freddie Problems

[terr]

Looks like congress is finally looking into the dangers to tax payers of Fannie and Freddie and their derivatives, etc. something we have been very concerned about here for years now. Our concerns are finally being heard. What a business concept when they make profits they keep them. However, when they have losses we pay for the losses. Representative Richard Baker is heading this investication. I think emails to voice your concerns may help them in their investigations.

 

[larryhaskell]

Terr

What is your source for this info so we can review. Thanks

 

[Anonymous]

Larry,

Check the USA today article on 05/21/02.

 

[Alan Simmons]

http://www.usatoday.com/usatonline/2002052...21/4127071s.htm

 

[Pamela Crowley (Florida)]

Thanks Terr and Alan!!!

 

[Alan Simmons]

A good companion piece.

http://realtytimes.com/rtnews/rtcpages/200...fhaapproach.htm

 

[Joe Birrell (NY)]

Combined Fannie and Freddie had a $10 billiion profit last year (and they are concerned about the high cost of appraisals). Being cynical I don't expect much to to happen, like the guy said in the article , it's like trying to melt an iceberg with a blow-dryer. You can't change the habits of an 800 lb gorilla.

 

[David C. Johnson]

Good Reads.

Thanks, Fellas

dcj

 

[rcaldwell]

There will be some saber rattling but no reforms. FNM and FRE have way to much political backing for ANYTHING to happen. The derivates side of the business is troubling, but not for FNM and FRE but their counterparties. That is where the real problem will show up. Watch the banks.

Ryan