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

To: Les H who wrote (234258)	12/24/2009 3:40:04 PM
From: nextrade!	Respond to of 306849

Les, thank you once again for sharing your continued effort here in SI

To: Les H who wrote (234258)	12/24/2009 3:47:13 PM
From: James Hutton	Read Replies (1) \| Respond to of 306849

You wonder what planet these people are on. Many people could take the two year package and probably live on it until they're toes up. "Fannie's CEO, Michael Williams, and Freddie CEO Charles "Ed" Haldeman Jr. each will receive $900,000 in salary, $3.1 million in deferred payments next year and another $2 million if they meet certain performance goals, according to filings with the Securities and Exchange Commission. . . . That pay is far less than what their predecessors earned. Former Fannie CEO Daniel Mudd received $10.2 million in 2008 and former Freddie CEO Richard Syron pocketed $13.1 million. Both execs were ousted when federal regulators seized the companies in September 2008. The federal government blocked exit packages for the pair worth up to $24 million. . . . Haldeman and Williams each could command between $5 million and $10 million in a similar position in the private sector, Borges estimated, and without the notable challenges and public scrutiny they face at these companies. . . . "I doubt too many people would look at these jobs and say, 'Gosh, I would love to go there for my next career move,'" Borges said. "The government is getting top notch executives to solve problems that are not easy to solve.""

To: Les H who wrote (234258)	12/24/2009 3:47:23 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 306849

Merry Christmas and an insolvent New Year! So the "let's sell our toxic loans to fannie and freddie and have the tax payers eat our losing bets" plan is complete. the next step is to include fannie and freddie on the balance sheet of the united states... oh, that's right, accounting fraud is legal for the traitor mercenaries in congress.

To: Les H who wrote (234258)	12/24/2009 3:50:29 PM
From: patron_anejo_por_favor	Respond to of 306849

>>Treasury removes cap for Fannie and Freddie aid Fannie Mae and Freddie Mac receive unlimited future funds from taxpayers to stay afloat<< ....And Timmy gives the taxpayer a lump in their stockings for a Christmas present! Shocked, I tellya, I'm shocked! Oh, and why is this up to Timmy anyway?

To: Les H who wrote (234258)	12/24/2009 5:10:52 PM
From: Les H	Read Replies (2) \| Respond to of 306849

Fed bought $15 billion net in agency MBS in latest week NEW YORK (Reuters) - The Federal Reserve bought $15.0 billion net of agency mortgage-backed securities in the latest week, the New York Fed said on its website on Thursday. That is down from the previous week's net purchases of $16.0 billion. The purchases brought the U.S. central bank's purchase of mortgage bonds guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae to roughly $1.102 trillion since January. The Fed said it bought $17.430 billion gross of agency MBS from December 17 through December 23. At the same time, it sold $2.430 billion in mortgage securities. The Fed aims to buy $1.25 trillion of agency MBS in a bid to bring down mortgage rates and to stimulate the battered housing sector.

To: Les H who wrote (234258)	12/24/2009 5:53:50 PM
From: rich evans	Read Replies (2) \| Respond to of 306849

There really is no alternative. With the 6 trillion of Fannie/Freddie Loans out there either directly or guaranteed, and 10% losses then we have 600 bill in losses. They have taken a lot of these loan loss provisions already but there is a lot more to come. With the Treasury guaranteeing their debt and the Fed buying it, there is no need for capital to absorb losses and there is really no capital left. So with the interest rate spreads available when your cost of funds is 0, both Fannie and Freddie should be able to earn back their losses from net interest income and fee income in about 10 years. What other plan is possible? We need home mortgages and they are really the only game in town left except for FHA. Fannie and Freddie had 50% of the total mortgage market of 14 trill at one time. They probably represent more now with FHA. Give them all the money they need to earn their way out of this abyss is the plan. Rich