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To: yard_man who wrote (54019)1/4/2001 11:32:56 AM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 436259
 
<<Why is this news?>>

I dunno, especially since they had adequate reserves at the end of the 3rd quarter....unfortunately, the economy has fallen off a cliff since then, and their stocks are now tanking despite a panic rate cut...

NEW YORK, Jan 3 (Reuters) - Fannie Mae's (NYSE:FNM - news) and Freddie Mac's (NYSE:FRE - news) financial regulator said on Wednesday the U.S. home mortgage finance giants had adequate capital to protect themselves against financial risks at the end of the third quarter of 2000.



To: yard_man who wrote (54019)1/4/2001 4:01:48 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 436259
 
allow me to add: their leverage is worse than LTCM's was! 1 : 154 ! and lots of derivatives thrown in to hedge their exposure...if this thing goes bust, the whole system goes bust. no wonder their sitting on the gold price especially heavy these days...no warning must come from that corner.


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