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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: Sea Otter who wrote (71329)11/18/2007 4:06:12 AM
From: mishedlo  Respond to of 116555
 
Fannie Mae's Credit Loss: What's The Real Story?
globaleconomicanalysis.blogspot.com
Peter Eavis of Fortune said “Uh oh. It’s Enron all over again.” in reference to Fannie Mae. On the issue in question, FNM is actually following GAAP principles. However FNM does have issues: a recession, optimistic cure rate assumptions, and housing price declines. Fannie Mae is way under capitalized and a systemic threat. FNM should be dissolved.
Mish