Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (168928)	5/29/2002 10:53:36 PM
From: KeepItSimple	Read Replies (3) \| Respond to of 436258

Can you say Enron II? The White House is attacking FRE and FNM because they know the books are just as cooked as enron or Bre-X. They don't want to be held responsible when the shit hits the fan- by calling for more openness, they can wash their hands of blame when the public learns that 99% of FNM/FRE's debt is sub-junk status. Listen folks, the housing bubble in the US is being supported ENTIRELY by FNM/FRE's insanely lax lending practices. The value of all these questionable mortgage loans is 100x the Savings and Loan fiasco. When these turds collapse, it isnt going to be pretty. Buying 10 point out of the money puts is the easiest path to 1000% profits I know of. I give this scam 2 weeks tops, before unravelling. ------------------------------ WASHINGTON, May 29 (Reuters) - The White House on Wednesday called for new rules requiring mortgage finance giants Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News) to disclose more financial information to the public. The White House's Office of Management and Budget asked the firms' financial regulator, the Office of Federal Housing Enterprise Oversight, to draft the rules.The regulations should require Fannie Mae and Freddie Mac to publicly disclose the same information currently required of publicly traded companies by the Securities and Exchange Commission, the administration said.