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.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (214475)	8/6/2009 4:08:29 PM
From: Jim McMannis	Respond to of 306849

It's a different perspective when you KNOW they are lying plus how they manipulate.

To: patron_anejo_por_favor who wrote (214475)	8/6/2009 4:10:51 PM
From: Giordano Bruno	Respond to of 306849

New math with Goldman Sachs ftalphaville.ft.com

To: patron_anejo_por_favor who wrote (214475)	8/6/2009 8:18:47 PM
From: DebtBomb	Read Replies (1) \| Respond to of 306849

Fannie Mae posts bigger loss, requests $10.7B more in aid By John Letzing, MarketWatch SAN FRANCISCO (MarketWatch) -- Fannie Mae, the ailing mortgage giant under federal conservatorship, said Thursday its net loss increased sharply in the second quarter due to declining housing-market conditions. The mortgage-finance firm also said a request has been submitted to the Treasury Department for an additional $10.7 billion in aid. Fannie Mae posted a loss for the second quarter of $14.8 billion, or $2.67 a share, compared with a loss of $2.3 billion, or $2.54 a share in the same period last year. Net revenues were $5.6 billion and fair value gains were $823 million, Fannie Mae said in a regulatory filing. The mortgage entity said the $12.5 billion increase in net loss in the period was driven by a $13.4 billion increase in credit-related expenses, which "more than offset a $1.7 billion increase in net interest income." The results were "adversely affected by the ongoing deterioration in the housing and mortgage markets, the economic recession and rising unemployment," Fannie Mae said. Fannie Mae said its request submitted Thursday for an additional $10.7 billion in aid follows a $19 billion infusion from Treasury in June, and a $15.2 billion infusion in March. It has requested receipt of the additional funds on or before Sept. 30. "Due to current trends in the housing and financial markets, we expect to have a net-worth deficit in future periods, and therefore will be required to obtain additional funding from Treasury pursuant to the senior preferred stock purchase agreement," Fannie Mae said. "As a result, we are dependent on the continued support of Treasury in order to continue operating our business." Reports surfaced earlier this week that the White House is considering folding the troubled assets of both Fannie Mae and its counterpart Freddie Mac into a new, federally backed corporation while letting the more viable portions of each mortgage company revive as publicly held entities. See related story. marketwatch.com