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

To: saveslivesbyday who wrote (239227)	2/24/2010 12:49:39 PM
From: BWAC	Read Replies (1) \| Respond to of 306849

They are the MarkIts. Mark It to whatever price they want.

To: saveslivesbyday who wrote (239227)	2/24/2010 1:26:38 PM
From: joseffy	Respond to of 306849

Does Geithner Need Turbo Tax’s Treasury Edition? By David Hogberg Wed., Feb. 24, 2010 blogs.investors.com House Budget Committee Chairman John Spratt, D-S.C., this morning asked Treasury Secretary Timothy Geithner how much the government’s bailout of mortgage finance giants Fannie Mae (FNM) and Freddie Mac (FRE) would add to the deficit if that bailout was “consolidated” into the federal budget. (At present, the Obama Administration keeps it “off budget.”) Here’s Geithner’s answer: I think the CBO answer would be — this is a matter for accountants — is that it would be no impact on the deficit. That doesn’t appear to be what CBO said: In the baseline budget projections it published in 2009, CBO accounted for the cost of the entities’ operations in the federal budget as if they were being conducted by a federal agency. That is, CBO treated the mortgages owned or guaranteed by Fannie Mae and Freddie Mac as loans and loan guarantees of the federal government. The operations of Fannie Mae and Freddie Mac added $291 billion to CBO’s August baseline estimate of federal outlays for fiscal year 2009 and $99 billion to the spending projected for the 2010–2019 period. Of course, when we are talking about trillion dollar deficits, maybe $291 billion and $99 billion seem like “no impact.” Geithner may just not be that good with math. He's famously struggled with his own taxes. Perhaps he needs Turbo Tax's Treasury edition. FYI: Freddie said Wednesday it lost $6.47 billion in Q4, but said it wouldn't need to ask for more taxpayer bailout funds.